844 2nd Avenue E, Owen Sound MLS Number: X12726360

High-Cap, Value-Add Mixed-Use Asset in Central Owen Sound! Offering a strong 8.3% cap rate on an as-is basis, with a clear value-add opportunity to increase returns through the addition of one residential unit, bringing the cap rate closer to 9%. Upon completion and stabilization, the asset is expected to be CMHC-financeable on exit, enhancing long-term value and liquidity. The building features six fully updated residential apartments above two ground-floor commercial units, with recent capital improvements including full window replacement and significant roof upgrades. Preliminary discussions with the City support reconfiguration at grade, including subdivision of existing commercial space and the addition of a residential unit. A turnkey, well-maintained asset with upside in a central downtown location!