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4930 53 AVE Red Deer, AB T4N 5J9
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Key Details
Sold Price $1,000,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown Red Deer
MLS® Listing ID A2096220
Sold Date 07/09/24
Originating Board Central Alberta
Year Built 1964
Annual Tax Amount $17,703
Tax Year 2023
Lot Size 0.300 Acres
Acres 0.3
Property Description
BUILDING ONLY FOR SALE ONLY. Featuring just over 5,600 sq ft, this multi-purpose, stand alone building on it's own lot is ideally located right West of the downtown Superstore. Strong three-year NNN lease renewal just resigned with same strong tenant for the past 10+years. building produces around an 8% cap rate on a solid 3 year average, based on asking price. Cinder block building on slab. Future opportunity exists to split building into two if desired (previous rear 4000 sq ft section was a mechanic shop and the front 1,600 was a retail space) regular maintenance & improvements to roof, HVAC, Windows, LED Lighting and exterior facade, have all been completed in the last several years. Good investment, strong return, great location. Please do not approach business/ workers regarding the building sale.
Location
Province AB
County Red Deer
Zoning DC(28)
Interior
Heating Central, Forced Air, Natural Gas
Cooling Central Air
Exterior
Roof Type Membrane
Building
Foundation Slab
Structure Type Brick
Others
Restrictions Call Lister
Tax ID 83329234
Ownership Private
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