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Saturday, July 18th, 2026

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$1,600,000
Available - For Sale
Listing ID: X12957606
SHOVEL-READY Apartment Building, an exceptional DEVELOPMENT OPPORTUNITY at the CORNER of Bank St& Florence St. It comes with an APPROVED BUILDING PERMIT for a 6-storey mixed-use building, offering immense potential for an astute developer or investor. This property boasts unparalleled visibility and access in the HEART of OTTAWA, PUBLIC TRANSIT, Retail, Schools, Diverse dining options, Cultural attractions, and Community Amenities, ensuring strong TENANT DEMAND. The approved permits allow for a thoughtfully designed 6-storey building featuring ground-floor commercial space and 28 residential units above. The innovative design strategy FORCUSES on MAXIMIZING rental potential with 7 well-appointed 1-bedroom units and 21 efficiently designed bachelor units (resembling a 1-bedroom-like layout). This strategic unit mix targets a highly competitive segment of the rental market, where smaller, doorstep transit, and smartly designed units are in high demand and typically easier to rent. This approach sets your development apart from the standard 1-bed and 2-bed offerings, a distinct advantage. These crucial studies and designs represent a significant DE-RISKING for the buyer, providing a clear path forward and SAVING YEARS of valuable time and effort. While the existing approved designs offer a streamlined development path, a buyer who prefers to revise elements can still leverage the extensive pre-development work. READY TO BUILD: Significant Savings & Speed to Market!
Price $1,600,000
Taxes: $31,250
Tax Type: Annual
Occupancy by: Vacant
Address: 406-408 Bank Street , Ottawa Centre, K2P 1Y9, Ottawa
Postal Code: K2P 1Y9
Province/State: Ottawa
Legal Description: PART OF LOT 21 PLAN 15558 W/S BANK STREE
Directions/Cross Streets: Florence St
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Washroom 11:  0
Washroom 12:  0
Washroom 13:  0
Washroom 14:  0
Washroom 15:  0
Washroom 16:  0
Washroom 17:  0
Washroom 18:  0
Washroom 19:  0
Washroom 20:  0
Washroom 21:  0
Washroom 22:  0
Washroom 23:  0
Washroom 24:  0
Washroom 25:  0
Washroom 26:  0
Washroom 27:  0
Washroom 28:  0
Washroom 29:  0
Washroom 30:  0
Washroom 31:  0
Washroom 32:  0
Washroom 33:  0
Washroom 34:  0
Washroom 35:  0
Washroom 36:  0
Washroom 37:  0
Washroom 38:  0
Washroom 39:  0
Washroom 40:  0
Category: Designated
Building Percentage: T
Total Area: 3,261.57
Total Area Code:  Square Feet
Area Influences: Public Transit  
Maintenance: 0
Sewers: Sanitary
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Asking Price: $ Heating: $ /Year  
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SOLID ROCK REALTY

406-408 Bank Street , Ottawa Centre, K2P 1Y9, Ottawa

Evelina Branitsky
Sales Representative
Dir:
647.888.9606
Bus:
416.739.7200
Fax:
416.739.9367

 
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At a Glance:
Type: Com - Land
Area: Ottawa
Municipality: Ottawa Centre
Neighbourhood: 4103 - Ottawa Centre
Style:
Lot Size: x 59.28(Feet)
Approximate Age:
Tax: $31,250
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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Evelina Branitsky Sales Representative pic ebranitsky@rogers.com Sutton Group- Admiral Realty Inc., Brokerage Independently owned and operated. pic 1881 Steeles Avenue West, Toronto, Ontario M3H5Y4 pic Dir: 647.888.9606 | Office: 416.739.7200 | Fax: 416.739.9367 Personal Pic

ebranitsky@rogers.com