3
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$1,350,000
Est. payment /mo
Active
4806 51 Avenue Red Deer, AB T4N 4H3
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UPDATED:
12/03/2024 08:05 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Downtown Red Deer
MLS® Listing ID A2182031
Originating Board Calgary
Year Built 1980
Annual Tax Amount $17,072
Tax Year 2024
Property Sub-Type Mixed Use
Property Description
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.
Location
Province AB
County Red Deer
Zoning C1
Others
Restrictions None Known
Ownership Private
Listed by Royal LePage Solutions