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$389,900
Est. payment /mo
11,897 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 11,897 sqft
Price per Sqft $32
Subdivision Downtown Red Deer
MLS Listing ID A2352910
Year Built 1947
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Mixed Use
Property Description
**DOWNTOWN RED DEER MIXED-USE INVESTMENT OPPORTUNITY!** Located at 5101 50 Avenue in the heart of Red Deer,this established income-property opportunity offers investors a compelling entry point into downtown commercial real estate at an attractive $389,900 asking price.
The property combines commercial and residential rental components,providing an opportunity to diversify rental income within a single investment. Municipal records identify approximately 11,897 square feet of building area on a 6,500 square foot parcel,with C-1 zoning that supports a variety of downtown commercial uses,subject to municipal approval.
Built in 1947,this established downtown property offers existing rental operations together with potential opportunities for repositioning,improved operating efficiencies and long-term value creation. Its central location places the property within Red Deer's downtown business district,with access to surrounding commercial services,businesses and residential neighbourhoods.
For investors prepared to assess the existing tenancy,building condition and operating structure,the property offers an opportunity to pursue a value-add strategy at a relatively accessible acquisition price. Commercial and residential rent rolls and historical operating information are available for qualified purchaser review.
Offered for sale as is,with possession subject to existing tenancies. Whether expanding an investment portfolio or exploring the potential of an established downtown mixed-use property,5101 50 Avenue deserves consideration.
The property combines commercial and residential rental components,providing an opportunity to diversify rental income within a single investment. Municipal records identify approximately 11,897 square feet of building area on a 6,500 square foot parcel,with C-1 zoning that supports a variety of downtown commercial uses,subject to municipal approval.
Built in 1947,this established downtown property offers existing rental operations together with potential opportunities for repositioning,improved operating efficiencies and long-term value creation. Its central location places the property within Red Deer's downtown business district,with access to surrounding commercial services,businesses and residential neighbourhoods.
For investors prepared to assess the existing tenancy,building condition and operating structure,the property offers an opportunity to pursue a value-add strategy at a relatively accessible acquisition price. Commercial and residential rent rolls and historical operating information are available for qualified purchaser review.
Offered for sale as is,with possession subject to existing tenancies. Whether expanding an investment portfolio or exploring the potential of an established downtown mixed-use property,5101 50 Avenue deserves consideration.
Location
Province AB
County 0262
Zoning C-1
Interior
Fireplace No
Exterior
Garage No
Building
Dwelling Type Low Rise (2-4 stories)
Others
Restrictions None Known
Read Less Info
Listed by Century 21 Advantage
Nearby Locations
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