Red Deer, AB T4N 4H3,4806 51 AVE
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Red Deer, AB T4N 4H3,4806 51 AVE
Red Deer, AB T4N 4H3,4806 51 AVE
Red Deer, AB T4N 4H3,4806 51 AVE
Red Deer, AB T4N 4H3,4806 51 AVE

$1,200,000

Est. payment /mo

$1,225,175

2.1%
Est.Price: ?

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4806 51 AVE Red Deer, AB T4N 4H3

SOLD DATE : 06/27/2023

Key Details

Sold Price $1,200,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Subdivision Downtown Red Deer

MLS® Listing ID A2052798

Sold Date 06/27/23

Originating Board Central Alberta

Year Built 1980

Annual Tax Amount $17,137

Tax Year 2023

Property Description

Amazing Fully Leased Investment Opportunity!!! This meticulously well kept property continues to produce excellent cash flow from 2 very strong and long term tenants. With 4 years remaining on the Anchor tenant, this Investment is producing a 8.5% CAP RATE with escalations every year. The Leases are both True NNN leases with Tenant paying for 100% of operating costs plus management fees. in 2022 the current owner spent $56,000 on 4 new 5 Ton HVAC roof top units. As well as $23,000 on all new high efficient and adjustable LED lighting and ballasts thruout both floors. Located on one of the busiest roads in Red Deer (Gaetz Ave, South) and with great neighbors such as Original Joes and the Canadian Western Bank. The anchor Tenant has been here for over 20 years and loves the building and location and the second business has been operating from this location for over 10 years and has multiple locations throughout Alberta . Both Tenants are recession and operated thru the pandemic marvelously.

Location

State AB

County Red Deer

Zoning C1

Interior

Heating Central, Natural Gas

Cooling Central Air, Full

Exterior

Roof Type Flat

Building

Foundation Poured Concrete

Structure Type Concrete

Others

Restrictions None Known

Tax ID 83312217

Ownership Private

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Listed by Sundance Realty & Management Inc.

Lindsay Olver

Broker

+1(403) 597-6801

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