379 Preston Street, Ottawa - Business for Sale
379 Preston Street, Ottawa, Ontario, K1S4N1
This business in Ottawa is for sale offering roughly 10,000 sq ft of space. It has been on the market 28 days, fresher than the Ottawa average of 63 days.
Description
The legendary Prescott is available in the heart of Little Italy in Ottawa. Originally openedin 1934 as The Prescott Hotel on Preston Street, this iconic hospitality business has becomeone of the city's best known sports bar and entertainment destinations. Featuring The Porch onPreston rooftop patio, widely regarded as one of Ottawa's top patios, this is a rareopportunity to acquire a historic and highly profitable hospitality venue with deep roots inthe local community. Currently owned and operated by MRG Group, the business spansapproximately 10,000 Sq Ft and is licensed for 600 guests including the rooftop patio. Theproperty features a full commercial kitchen with large hood systems and walk-in refrigeration,allowing for high volume food and beverage operations, events, nightlife, and entertainmentprogramming. The business is available with training or can be converted into a differentconcept, cuisine, franchise, or entertainment venue. Lease rate of $34,100 Gross Rentincluding TMI with lots of term remaining. Positioned in one of Ottawa's most vibrantrestaurant and nightlife districts, this flagship hospitality location benefits fromoutstanding visibility, steady traffic, and a loyal customer following built over generations.Serious enquiries only please do not approach staff or ownership. (id:66096)
Property Details
- MLS®
- X13873810
- Property Type
- Business
- Business Type
- Restaurant
- Zoning
- Business Commercial
- Bathrooms
- 2
- Interior Size
- 10,000 ft²
- Lot Size
- 98 × 100 ft (9,793 sq ft)
- Frontage
- 99 ft
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
- Listed
- 28 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Extended: 28 days on market, against an average age of 63 days across the listings currently for sale in this city
This business in Ottawa has been listed for 28 days, which is 35 days fresher than the city average of 63. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (K1S)
This home lists at $399,000, about 3.8× the local median household income of $106,000.
Carrying it typically needs a household income of about $77,939 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.
- Median household income
- $106,000
- Population
- 31,257
- Median age
- 39.2
- Owner / renter
- 51% / 49%
- Avg. household size
- 2.1
Source: Statistics Canada, 2021 Census (FSA K1S)
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$399,000
Ottawa