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$3,500,000
Est. payment /mo
20,480 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 20,480 sqft
Price per Sqft $170
Subdivision Northlands Industrial Park
MLS Listing ID A2346956
Year Built 1980
Lot Size 1.520 Acres
Acres 1.52
Property Sub-Type Industrial
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.
Location
Province AB
County 0262
Zoning I-1
Interior
Heating Ceiling, Forced Air, Natural Gas
Fireplace No
Exterior
Garage No
Building
Dwelling Type Industrial
Others
Restrictions Call Lister
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Listed by Century 21 Maximum
Nearby Locations
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