$1,200,000
$1,225,175
2.1%For more information regarding the value of a property, please contact us for a free consultation.
4806 51 AVE Red Deer, AB T4N 4H3
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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