4930 53 Avenue, Red Deer, Alberta T4N 5J9

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. (id:27476)

This property is a leasehold, with a building that is exclusively for sale. The building is a stand-alone structure on its own lot, boasting over 5,600 square feet of space. It is conveniently situated just west of the downtown Superstore. The property has a strong three-year NNN lease renewal with the same tenant for over a decade, resulting in an approximate 8% cap rate based on the asking price. The building is made of cinder block on a slab, and there is potential to divide it into two separate sections. The rear 4,000 square feet previously functioned as a mechanic shop, while the front 1,600 square feet was used as a retail space. Various maintenance and improvements, such as roof, HVAC, windows, LED lighting, and exterior facade, have been carried out in recent years. This property is a sound investment with a strong return and an excellent location. It is important to note that inquiries about the building sale should not be directed to the business or its employees.

This property is currently on the market for sale and has a land size of 13,068 square feet, equivalent to 10,890 - 21,799 square feet (1/4 - 1/2 acre). It is situated on 4930 53 Avenue in the city of Red Deer, Alberta, with a postal code of T4N5J9. The property is located in the Downtown Red Deer community and features central air conditioning for cooling. The building exterior is finished with brick, and it utilizes natural gas as its heating fuel. The heating system consists of central heating and forced air. This property is classified as a retail space.