For Sale · Retail

958 2ND AVENUE E, Owen Sound

958 2ND AVENUE E, Owen Sound, ON N4K2H6

$1.4M total

10,000 SF

Asset Class

Retail

Size

10,000 SF

Building class

B

Zoning

CB1 — Low Intensity Business

$ / SF

$145

Occupancy

82%

About this property

EXCEPTIONAL DOWNTOWN COMMERCIAL BUILDING FOR SALE! An incredible opportunity in the heart of Owen Sound's desirable River District! Located at 958 2nd Avenue East, this impressive property offers 51 feet of main street frontage, expansive display windows and excellent visibility.The spacious main floor features approximately 6,000 sq. ft. of open-concept retail space, along with a rear receiving area and basement access complete with a conveyor belt. The expansive lower level offers approximately 5,000 sq. ft. of storage, plus additional office and workspace. The building extends approximately 100 feet in length.A separately deeded riverside lot with five parking spaces is also included.The second floor features a private entrance accessed by a wide, solid staircase. Offering approximately 4,000 sq. ft. of bright, open space with impressive 11-foot ceilings, this level includes three windowed modular offices, a meeting room and a washroom.Previously home to Peoples, Big V and Shoppers, the building has been owned by the current owners since 2009. Extensive upgrades and renovations have been completed under the supervision of Steve Davis Contracting, including the roof, three rooftop HVAC units, insulation, electrical updates by Benedict, and improvements to both the first and second floors.The owners' business has simply outgrown the space, creating an excellent opportunity for a new owner to take advantage of this modernized commercial building.With generous square footage, a prime downtown location and access from both 2nd Avenue East (Main Street) and 1st Avenue East, this property offers outstanding potential in one of Owen Sound's most desirable commercial areas.Showings by appointment only. Contact your REALTOR for more information.Also includes PIN 370740537 and ARN 425904003001301. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.45M
Down payment30% · $435K
Interest rate6.25%
Amortization25 years
Occupancy82%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$63K

Annual cash flow

$-17K

Cash-on-cash

-3.91%

DSCR

0.79

Going-in cap

4.37%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Vector Robotics2,497 SF2030-12
Vector Robotics5,723 SF2030-12

Area demographics

Trade area within 3 miles of the property.

Population

60,233

Households

27,847

Median income

$105,000

Median age

33.6

Daytime population

99,979

5-yr growth

4.6%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 958 2ND AVENUE E, Owen Sound.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.