Historic Mayfair Theatre building in Old Ottawa South for sale

The Mayfair Theatre on Bank Street. (Jim O'Grady)

OTTAWA — The building that houses the historic Mayfair Theatre is for sale.

The Coldwell Banker Sarazen Realty listing shows the building at 1070-1076 Bank Street is for sale at $2,999,900.

There are three tenants in the building on Bank Street in Old Ottawa South: The Mayfair Theatre, Quinn Pub and a barber.

The Mayfair Theatre opened in the building in 1932.

The listing notes the Mayfair Theatre's current rent of $11.56 per square feet is "way below market value", and has one year left on the lease.

"Superb location, located a few blocks from Lansdowne," says the listing.

"This space can be converted easily to other shops and will definitely bring greater return once fully occupied."

In 2008, Council approved a motion making the Mayfair Theatre a "designated heritage property."

"Opened in 1932, the Mayfair Theatre was an 'atmospheric' theatre designed in the Spanish Revival style," says the plaque outside the Mayfair Theatre.

"In the auditorium, designer Rene de Vos created the atmosphere of a Mediterranean plaza featuring an ornate painted ceiling, faux stone facades and balconies, wrought ironwork and ornamental glass windows. Today, the Mayfair is the oldest surviving movie theatre in Ottawa and the last of its type."

On Twitter, Coun. Shawn Menard notes any potential buyer of the building "should know the internal features are heritage protected."

A property owner must ask council for permission to alter or demolish any of the identified heritage elements of the property.