$899,000
Available - For Sale
Listing ID: X13711250
314 8th Street East , Owen Sound, N4K 1L4, Grey County
| **OVER 10% CAP RATE. FULLY TENANTED. $110,000+ IN GROSS ANNUAL INCOME.** At $899,000, the numbers speak for themselves. 314 8th Street East offers immediate cash flow from a substantially improved mixed-use asset in the heart of downtown Owen Sound. Five income streams under one roof. The 5,274 sq. ft. building combines 4 extensively renovated residential apartments with an established main-floor convenience store secured by a long-term commercial lease with contractual annual rent escalations providing diversified income with built-in growth. And here's what separates this one from the typical income property: the heavy lifting has already been done. Significant capital improvements include a full exterior facelift with new metal siding and stone façade (2024), basement waterproofing (2025), updated electrical (2021), insulated garage (2024), on-demand hot water (2023), automatic WiFi-enabled gated private parking (2023), roof (2015), and extensive renovations to all 4 residential apartments between 2019 and 2022. The approximately 2,537 sq. ft. residential component is 100% occupied, while the established commercial tenant anchors the main floor in a high-visibility downtown location. No lease-up period. No major renovation project. No waiting for future potential to make the numbers work. The income is already here. For investors looking for immediate cash flow, diversified income, significant capital improvements already completed and long-term upside, your money works harder in Owen Sound. Full rent roll, income and expense statement and supporting financials available to qualified buyers. **Vendor Take-Back (VTB) financing may be available.** |
| Price | $899,000 |
| Taxes: | $7620.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 314 8th Street East , Owen Sound, N4K 1L4, Grey County |
| Postal Code: | N4K 1L4 |
| Province/State: | Grey County |
| Legal Description: | PT LT 11 E/S SCROPE ST, 12 E/S SCROPE ST |
| Directions/Cross Streets: | From the main intersection of 2nd & 10th in downtown Owen Sound, head east on 10th. Turn right onto |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 5274.31 |
| Total Area Code: | Square Feet |
| Retail Area Code: | Sq Ft |
| Area Influences: | Major Highway Public Transit |
| Financial Statement: | T |
| Chattels: | T |
| Franchise: | F |
| Days Open: | O |
| Sprinklers: | No |
| Washrooms: | 5 |
| Outside Storage: | T |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | Partial |
| Sewers: | Sanitary+Storm |
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| Keller Williams Experience Realty |
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Nikki Shahebrahim
Broker
Dir:
647-830-7200
Bus:
905-597-0800
Fax:
905-597-0868
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Grey County |
| Municipality: | Owen Sound |
| Neighbourhood: | Owen Sound |
| Tax: | $7,620 |
| Baths: | 5 |
| Fireplace: | N |
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