5137 51 Av, Drayton Valley, Alberta T7A 1J7

This property is in the downtown core with great exposure & lots of public parking to the west of the building as well as street parking. Currently there are 4 tenants and room for more. There is a general assessment for 2022. Current rent is $48,240.00 per year. The front end used to have a restaurant which would increase the rent substantially. Expenses run around $18,000 annually which includes the insurance, taxes, utilities, maintenance & snow removal. The owner is currently paying these expenses. A party wall agreement is in process of being completed. The roof is torch on, the 2 furnaces are set up with air conditioning. Recently the furnaced were serviced professionally. There are 3 hot water tanks in the building. One is due to be replaced. There are 2 common area bathrooms. In 1990 the windows and framing were renovated. Gas meters were switched to one bill to save on costs & could be reversed. There are no leases or damage deposits with the tenants. (id:27476)

This property is situated in the heart of downtown, offering excellent visibility and ample public parking to the west of the building, as well as street parking. At present, there are four tenants occupying the space, with potential for additional tenants in the future.

There is a general assessment scheduled for 2022, and the current annual rent stands at $48,240. The front end of the property previously housed a restaurant, which has the potential to significantly increase the rental income. Annual expenses, including insurance, taxes, utilities, maintenance, and snow removal, amount to approximately $18,000, all of which are currently covered by the owner.

A party wall agreement is in the process of being finalized, and the property features a torch-on roof, as well as two furnaces equipped with air conditioning. The furnaces have recently undergone professional servicing, and there are three hot water tanks on the premises, one of which is due for replacement. Additionally, the building includes two common area bathrooms, and in 1990, the windows and framing underwent renovations.

The property's gas meters have been consolidated into a single bill to reduce costs, a change that could potentially be reversed. Notably, there are no existing leases or damage deposits in place with the current tenants.

This property is currently listed for sale and is located at 5137 51 AV in the city of Drayton Valley, Alberta, with a postal code of T7A1J7.