178 Main Street, Glebe - Ottawa East and Area

$3,500,000
178 Main Street

$3,500,000

New
172d
Other3-Storey

178 Main Street, Glebe - Ottawa East and Area

Total Monthly Obligation $16,096

Beds
4
Baths
4
Park
0
Sqft
3500-5000
DOM
172d
Score
13
Yield
1.1%
Cash on Cash
-19.1%
Cap Rate
0.5%
5Y IRR
0.8%
10Y IRR
3.4%
Property Type-Other
MLS® Number-X13083828
Beds-4
Bathrooms-4
Size-3500-5000 sqft
Lot Size-33 × 93.98 ft
Listed on site-May 4, 2026
Style-3-Storey
Building Type-Other
Taxes-$19,234.52 (2026)
Parking-None
Heating-Forced Air (Gas)
Brokerage-ENGEL & VOLKERS OTTAWA
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-West
Exterior-Stone, Metal/Steel Siding
Roof-Membrane
Foundation-Poured Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-4406 - Ottawa East
Title-Residential Freehold

No agent assigned

Unique opportunity for residential and commercial ownership in Old Ottawa East. 178 Main Street offers three self-contained units: a two-level 3-bed, 3-bath residence (Unit B), a one-bedroom apartment (Unit C), and a spacious commercial unit (Unit A), currently leased by Vespa Wine Bar. Unit B spans approx. 2,805 sq. ft. across two levels with multiple balconies and a large west-facing cedar terrace. The main floor features two living areas, a gourmet kitchen with a statement island and high-end appliances, a full bath with laundry, plus massive windows which lead to an expansive terrace with retractable awning, outdoor kitchen, hot tub, wet bar, and sink. Upstairs includes three bedrooms, including a primary suite with walk-in closet, spa-inspired ensuite, and private balcony, plus a full additional bath. Unit C is a bright open-concept apartment with a gas fireplace, built-in bedroom closet, and den ideal for a home office. The kitchen includes stainless steel appliances, ample counter space, and a peninsula with seating, along with in-floor heating in the kitchen and bath, in-unit laundry, a private deck, and heat pump heating and cooling. Unit A offers prime commercial space suited to retail, restaurant, or professional use, with high ceilings, garage-style front, patio potential, separate HVAC and utilities, and lower-level space. Extensive soundproofing has been added to Unit A, along with a stone wall separating it from Unit C. All units have been previously rented, offering strong income potential. Don't miss this exceptional opportunity in one of Ottawa's most sought-after neighbourhoods.

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%
%
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$
$
(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$2,800,000
Land Transfer Taxes$73,975
Legal Fees (Est.)
$
Total cash required for closing$775,475

Total Monthly Obligation

$16,096/mo
Mortgage $14,118
Monthly Loss $12,381
Principal$3,715
Interest$10,403
Property Tax$1,603
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
0.3%5
Cash-on-Cash
-21.1%0
5-Year IRR
-0.8%2
10-Year IRR
2.4%
Returns Index
2.0/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
13/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$38,280/yr
NOI
$10,717/yr
Net Cash Flow
-$13,225/mo
Cash Margin
-414.6%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.061
LTV Ratio
80.0%18
Vacancy Buffer
0.6 mo13
Risk Index
10.7/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 178 Main Street

Time

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