Multi-Residential with Commercial, hotel, short & long term rental

Multi-Residential with Commercial, hotel, short & long term rental

Ontario
$ 3,000,000
N/Awalk
N/A
N/Abike
N/A
N/Atransit
N/A
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Description

Take advantage of this chance to own an icon in Owen Sound!  Over 44 residential rental units some with own washroom and some shared with a successful Restaurant on the Street level. So much potential with this building in the heart of the Town! This property has short term and long term tenants as well as a long term Pub that has been leasing the main floor for years.  The Seller has been renovating rooms on the main floor as well and renovating upstairs rooms as they become empty.  Mostly they share a washroom, some rooms have a washroom and microwave with small fridge.  There is a great development opportunity with this property as it owns vacant land as well.  The property overlooks the river and has a fabulous view.  This town has a huge history behind it. There are many opportunities to increase the rent and income on the property as is, as well. Inquire for more information MLS #X9305073

General Information

  • Category
    Commercial
  • Listing Type
    Sale
  • Listing Sub Type
    Exclusive Listings/Off Market
  • Property Type
    Multifamily
  • Listing Or Property ID
    X9305073
  • Age Of Building
    100+ Year
  • Ownership Status
    Freehold
  • Occupancy
    Tenant
  • Owner Financing
    None

Price Details

Yearly Property Tax
$ 20,397
Tax Year
2023
Yearly Gross Revenue
$500,000-$1,000,000+
Occupancy Rate
50-60%
Cap Rate
6-7%

Interior Features

Kitchens
1
Air Conditioning
Partial
Heating
Other
Elevator
None
Utilities
Yes

Exterior Features

Land Front Size
177.92
Land Depth Size
174.29
Land Size Acres
.41
Outside Parking Spots
10
Parking Total
10

Other Features

Water Supply
Municipal
Sewer
Municipal Sewer
Driveway
Paved
Environmental Assessment
0
  • Possession Date Comments
    4 more properties available in Owen Sound. They could be sold as a bundle.
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Professional
Randi Goodman
Commercial Real Estate Broker/Agent
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