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$ 3,500,000
Est. payment | /mo
20,480 SqFt
$ 3,500,000
Est. payment | /mo
20,480 SqFt
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 20480
Square Footage 20,480 sqft
Price per Sqft $170
Subdivision Northlands Industrial Park
MLS® Listing ID A2346956
Year Built 1980
Lot Size 1.517 Acres
Acres 66076.4
Property Sub-Type Freehold
Property Description
Turn-key 14-bay, 11 tenant industrial investment in Red Deer's sought-after Northlands Industrial Park. Built in 1980, this 20,480 SF single-storey Class B building offers 20' clear ceiling height on a 1.52 acre site with excellent access to 49 Avenue, Highway 11A, and the QEII Highway corridor. Fully leased to a diverse roster of established local trades and service tenants — several with 9 to 15+ years of continuous, uninterrupted occupancy — the property generates $233,480 in current annual base rent ($11.40 PSF weighted average), plus a fixed $4.50 PSF additional rent that fully recovers operating costs. Held as a single-owner bare land condominium corporation, this building can be acquired as a stabilized bulk investment or repositioned over time through a unit-by-unit strata sell-off. With Red Deer's industrial vacancy near 4% and minimal new supply given today's construction costs, well-located multi-tenant assets like this one offer a rare combination of in-place income and long-term upside in Alberta's third-largest city. Zoned I-1, Industrial Business Service Zone. (id:24570)
Location
State AB
Rooms
Kitchen 0.0
Interior
Heating Other, Forced air,
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Others
Ownership Freehold
Listed by Century 21 Maximum
Nearby Locations
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