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7419 50th Ave
Red Deer, AB T4P 1M5

$1,205,876 USD

Auto Repair Condo For Sale  •  9,216 SF

Property Details

  • Property Type Auto Repair
  • Total Building Size 38,455 SF
  • Lot Size 2.94 AC
  • Building Class C
  • Year Built 1976
  • Tenancy Multiple
  • Zoning C4
37 Transit Score
73 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 4-5 Industrial 9,216 SF $1,205,876 USD
  • Unit Size: 9,216 SF
  • Condo Use: Industrial
  • Price: $1,205,876 USD
  • Sale Type: Investment
  • Price/SF: $130.85 USD
Description
This is a semi retail space occupied by an auto body and mechanical shop with an established tenant having 4 years remaining on the lease. There are 4 assigned front car stalls and 2, 10’X14’ driving doors at rear with an additional 2 men doors. Additional rear parking is available. The electrical capacity is 200 amps three phases 600 volts, ceiling heights 22'.

Sale Notes
This is a solid investment because of its great exposure property which has been well maintained and in a great location, facing Gaetz Avenue. For sale at $1,650,000 at a 4.6% cap rate.

Description 

Located in the heart of Red Deer's bustling Northlands Industrial Park, Bays 4-5 at 7419 50th Avenue offer a prime investment opportunity with excellent exposure along Gaetz Avenue. This 9,216 sq ft semi-retail industrial condo, built in 1976 and zoned C4 (Major Arterial Commercial), is currently tenanted by a well-established auto body and mechanical shop with four years remaining on the lease. The property features 22-foot ceilings, two 10' x 14' drive-in doors, two man doors at the rear, and four assigned front parking stalls with additional rear parking. Enhanced with LED lighting, HVAC, and 200-amp, 600-volt three-phase electrical service, this well-maintained unit also includes a 455 sq ft mezzanine. With a cap rate of 4.6% and annual property taxes of approximately $24,541, this property is a solid, income-generating asset in a high-traffic location.

Highlights

High-traffic location on Gaetz Avenue
Fully leased 9,216 sq ft industrial condo
Modern features: 22' ceilings, drive-in doors, mezzanine
Ample surface parking available.

Property Flyers

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 63
Type: Surface
Included in Rent: Yes
Robert Lebosquain 403-271-0600 CIR Realty
Robert Lebosquain 403-271-0600 CIR Realty