245 Bay Street
245 Bay Street
$1,776,000
$538/sq ft· Bldg avg $692/sq ft · 9 days on market
About This Listing
Exceptional Investment Opportunity and excellent location in downtown Ottawa! This prime corner property is located at the corner of Bay Street and Gloucester Street in downtown Ottawa. Benefting from dual frontage and two separate addresses on both streets . It is surrounded by many high apartment buildings. In a densely populated neighborhood, it offers access to top-rated public schools, parks, and recreational facilities. The location is highly convenient, with bus stops and the OLRT-Lyon light rail station within walking distance.The property spans 3,300 square feet, upstairs with 5 offices/bedrooms (suitable for use as offices, residentials, or other uses) and 2 bathrooms, along with 1 kitchen. The first foor is currently operating as a convenience store, but can easily be adapted for other uses. The current building's basement is used as storage, but it can be also used as club. A total of 12 parking spaces are available, with 7 at the rear currently rented out for additional rental incomes with 2200 square feet area land . With ample parking, excellent transportation access, and versatile usage options. In addition, in terms of New Zoning (By-law 2026-50), the place can be built a hub(high building with 90 meters). Another building can be constructed in the additional land(i.e. the parking spots). It can be used (1)personal service business: barber shop, beauty parlour, or dry cleaner's distribution station. (2) place of assembly: club. (3)retail store: drugstore, floristshop, newsstand. (4) restaurant. This is a rare investment opportunity! Owner can offer second mortgage choice to buyer.
| Monthly Mortgage (P&I) | $7,738 |
| Property Tax (MLS) | $1,421 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $9,159 |
Down payment: $355,200 (20.0%) · Mortgage: $1,420,800
Property tax uses MLS annual tax of $17,050/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
The Bowery Condos + Lofts
Red Bricks Databy Richcraft Homes · 255 Bay Street
Maint. Fees
0.00
Occupancy
2016
Listing provided by COLDWELL BANKER FIRST OTTAWA REALTY
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Data last updated: August 23, 2026 at 10:25 a.m.