$2,100,000

For sale

950-956 & 948 2nd Avenue East, Owen Sound - Retail for Sale

950-956 & 948 2nd Avenue East, Owen Sound, Ontario, N4K2H6

12,669 ft²Listed 56 days ago

Overview

This retail property in Owen Sound is for sale offering roughly 12,669 sq ft of space. It has been on the market 56 days, fresher than the Owen Sound average of 92 days.

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Description

Prime Mixed-Use Investment Opportunity in Owen Sound's Historic River District! Welcome to an exceptional mixed-use investment opportunity in the heart of Owen Sound's Historic River District. This unique property offers a strong combination of commercial and residential income, featuring three road-front retail spaces and eight residential units.The main level includes three highly visible road-front retail spaces, providing excellent exposure and accessibility. One retail unit is currently occupied by a thriving fine dining establishment, while the second is home to a dry grocery and food store, providing established commercial uses and potential for stable rental income. The third retail space offers an excellent opportunity for an additional tenant or owner-user. Above the commercial spaces are eight residential units, creating a diversified income-producing property with both commercial and residential components. This combination provides investors with multiple revenue streams and the potential to benefit from the continued growth and revitalization of Owen Sound's downtown core. Located in the vibrant Historic River District, the property is within close proximity to shops, restaurants, waterfront attractions, parks, services, and other downtown amenities. Excellent visibility, road frontage, established commercial tenants, and multiple residential units make this an attractive opportunity for investors seeking a well-positioned mixed-use property with significant income potential. Three road-front retail spaces + eight residential units = a rare and versatile income-producing opportunity in downtown Owen Sound. (id:66096)

Property Details

MLS®: X13763528
Property Type: Retail
Business Type: Retail and Wholesale
Zoning: C1-1ZH
Interior Size: 12,669 ft²
Frontage: 64 ft
Building Area: 12,669 ft²
Heating: Baseboard heaters, Forced air
Cooling: Partially air conditioned
Property Tax: $25,160.86/yr
Listed: 56 days ago

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

56d

Owen Sound listings, avg age

92d

Price / ft²

$166

List price

$2.10M

Haho

This retail in Owen Sound has been listed for 56 days, which is 36 days fresher than the city average of 92. Act while there is still low competition.

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Listed by ROYAL LEPAGE SIGNATURE REALTY · OSWALD VASIHARAN EMMANUEL

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N4K)

This home lists at $2,100,000, about 30.2× the local median household income of $69,500.

Carrying it typically needs a household income of about $410,204 (20% down, 25-yr amortization, stress-tested) — roughly 490% above the area median.

Median household income: $69,500
Population: 28,975
Median age: 49.2
Owner / renter: 66% / 34%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N4K)

$2,100,000· $166/ft²

For sale

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