8675 sqft
$1,350,000
This meticulously maintained office building is located right on Hwy 2A, offering excellent visibility and accessibility. The property is 100% leased with true NNN leases, ensuring that tenants cover all operating costs, making this a hassle-free investment. The largest tenant has been in place for over 20 years, adding stability to this exceptional asset. Listed at a 7.18% cap rate and open to offers, this property presents a rare opportunity to acquire a turnkey investment in the heart of Red Deer’s vibrant downtown core. Recent upgrades include 4 brand-new HVAC systems (installed in 2022, Approx. $60,000) and new LED lighting with electrical work (completed in 2022, Approx. $23,000). These updates reduce operating expenses and enhance energy efficiency for years to come. (id:42619)
Property Details
MLS® Number
|
A2182031 |
Property Type
|
Other |
Community Name
|
Downtown Red Deer |
Plan
|
H |
Building
ConstructedDate
|
1980 |
SizeExterior
|
8675 Sqft |
SizeInterior
|
8675 Sqft |
TotalFinishedArea
|
8675 Sqft |
Type
|
Commercial Mix |
Land
Acreage
|
No |
SizeTotalText
|
Unknown |
ZoningDescription
|
C1 |
https://www.realtor.ca/real-estate/27705396/4806-51-avenue-red-deer-downtown-red-deer