Jag Patel
Broker
$65,000
Available - For Sale
Listing ID: X12563664
424 Preston Street , Dows Lake - Civic Hospital and Area, K1S 4N2, Ottawa
| INCREDIBLE OPPORTUNITY TO OWN A STUNNING, TURN-KEY RESTAURANT IN THE HEART OF LITTLE ITALY! Offered as a sale of business, this fully equipped and beautifully designed restaurant spans approximately 1,300 sq. ft. and includes everything you need to walk in and operate immediately. The space features a functional commercial kitchen, seating for approximately 35 guests, a large, trendy bar, two washrooms, and additional prep and storage areas in the basement with a separate back entrance and 3-car parking. Located on vibrant Preston Street, surrounded by established restaurants, retail, government offices, and residential towers, this location offers excellent exposure and consistent foot traffic year-round. The sale includes all restaurant assets, furniture, fixtures, and equipment (FF&E), valued at $100,000, but offered to purchase for $65,000. Buyers will have the opportunity to negotiate a new long-term lease with the landlord or Assignment of the Lease. Triple-net rent is $4,200/month plus HST for Base Rent, with Additional Rent of approximately $1825.73/month plus HST w/ 2.5 yrs remaining on lease until Spring 2028; Rent subject to annual Increases. Utilities are separate and paid by Tenant. Proof of restaurant experience and financial capability required. See attached feature sheet for full list of included assets. *PLEASE NOTE THIS LISTING IS CANCELLED AND NO LONGER FOR SALE* |
| Price | $65,000 |
| Minimum Rental Term: | 30 |
| Taxes: | $924000.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 424 Preston Street , Dows Lake - Civic Hospital and Area, K1S 4N2, Ottawa |
| Postal Code: | K1S 4N2 |
| Province/State: | Ottawa |
| Directions/Cross Streets: | Preston St. south between Norman and Beech |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 |
| Category: | With Property |
| Use: | Restaurant |
| Building Percentage: | T |
| Total Area: | 1300.00 |
| Total Area Code: | Square Feet |
| Retail Area Code: | Sq Ft |
| Area Influences: | Major Highway |
| Financial Statement: | T |
| Chattels: | T |
| Franchise: | F |
| Hours Open: | Wednesd |
| Employees #: | 5 |
| Seats: | 35 |
| Sprinklers: | No |
| Washrooms: | 2 |
| Outside Storage: | F |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | No |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Sale Of Business |
| Area: | Ottawa |
| Municipality: | Dows Lake - Civic Hospital and Area |
| Neighbourhood: | 4502 - West Centre Town |
| Tax: | $924,000 |
| Baths: | 2 |
| Fireplace: | N |
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