4806 51 Avenue Active

Red Deer,AB T4N 4H3

$ 1350000

- Bed

- Bath

- SqFt


Key Details

Property Type Other Types

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Downtown Red Deer

MLS Listing ID A2182031

Year Built 1980

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

Building

Dwelling Type Low Rise (2-4 stories)

Others

Restrictions None Known

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