318087 Hwy 6 & 10 - Department Store FOR SALE


Owen Sound, ON N4K 5N6
$8,500,000 CAD
416-791-7203

NO PHOTO

$8,500,000 CAD
Department Store - FOR SALE
null | Request Cap Rate

318087 Hwy 6 & 10
Owen Sound, ON N4K 5N6


OVERVIEW

We are excited to present a prime value-add opportunity at 318087 Highway 6 & 10, Meaford — a 76-unit multifamily property comprising 53 bachelor units and 23 one-bedroom units. Priced competitively at just $111,842 per unit, this property provides investors with immediate value, bolstered by a projected year 1 Net Operating Income of $441,427. A newly installed laundry room adds an additional income stream, enhancing the overall revenue potential. What truly distinguishes this property is its significant upside potential, estimated at 124%, driven by operational efficiencies and rent growth opportunities. This makes it an ideal asset for investors looking to maximize returns through active management and value-add improvements. Situated on a sprawling 7.84-acre lot, the property also offers ample surface parking and potential future redevelopment options. With its attractive pricing, immediate income generation, and impressive upside potential, 318087 Highway 6 & 10 stands out as a highly desirable investment for those looking to leverage the growing demand for multifamily housing in the Owen Sound region.

FOR SALE DETAILS

PRICE

$8,500,000 CAD

PRICE/SF

$491 CAD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

67

LAND DETAILS

LAND ACRES

10.25 AC

LAND SF

446,546 SF

ZONING

-

APN/PARCEL ID

420354000109400

ASK ABOUT THIS PROPERTY

Dayma ItamunoalaColliersMore Info
416-791-7203

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Dayma ItamunoalaColliersMore Info
416-791-7203

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.