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
Year Built 1980
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
Listed by Royal LePage Solutions