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Urban-High Street

4940 51 Avenue

4940 51 Ave, Red Deer, AB T4N 7C6

Listing Price: $2,100,000

Cap Rate
4.28%
Gross SF
8,153
Rentable SF
8,153
Price/Gross SF
$257.57
Lot Size
0.83 acres
Year Built
2001

Investment Overview

Exceptionally located in Downtown Red Deer, the Subject Property is well-positioned across the
street from Real Canadian Superstore, anchoring the Subject Property to a major shopping node in the Downtown core. The Subject Property is improved with a freestanding, single-storey building comprised of 8,153 SF with excellent vehicular visibility and multiple points of access and egress. Majority leased to Sun Life Assurance Company of Canada ("Sun Life"), the Subject Property presents an opportunity for an investor
to lease up the vacancy and capture rental upside or an owner-user to utilize the vacant space and benefit from an additional rental revenue.

Investment Highlights

  • The current tenant, Sun Life, is operating on a landlord friendly NNN lease, providing a potential investor with a carefree and stable cash flow.
  • Opportunity for investors to secure in-place income with future upside by way of strategic lease-up of the current vacancy – well positioned for an owner-user to occupy the vacant space.
  • The tenant, Sun Life, has no remaining options to renew, allowing an owner-user access to the entire building or an investor to either reposition or renegotiate the lease upon expiry in 2027.
  • The Subject Property encompasses 41 marked stalls and benefits from accessibility with 3 access points.
  • The Subject Property has unique exposure to four roads and throughway's: 49 Street, 50 Street, 52 Avenue, and 2A Highway, positioning the Subject Property as a highly accessible and central location in the heart of downtown Red Deer.

Exclusively Listed By

Urban-High Street

4940 51 Avenue

Listing Price: $2,100,000

Cap Rate
4.28%
Gross SF
8,153
Rentable SF
8,153
Price/Gross SF
$257.57
Lot Size
0.83 acres
Year Built
2001

Investment Highlights

  • The current tenant, Sun Life, is operating on a landlord friendly NNN lease, providing a potential investor with a carefree and stable cash flow.
  • Opportunity for investors to secure in-place income with future upside by way of strategic lease-up of the current vacancy – well positioned for an owner-user to occupy the vacant space.
  • The tenant, Sun Life, has no remaining options to renew, allowing an owner-user access to the entire building or an investor to either reposition or renegotiate the lease upon expiry in 2027.
  • The Subject Property encompasses 41 marked stalls and benefits from accessibility with 3 access points.
  • The Subject Property has unique exposure to four roads and throughway's: 49 Street, 50 Street, 52 Avenue, and 2A Highway, positioning the Subject Property as a highly accessible and central location in the heart of downtown Red Deer.

Investment Overview

Exceptionally located in Downtown Red Deer, the Subject Property is well-positioned across the street from Real Canadian Superstore, anchoring the Subject Property to a major shopping node in the Downtown core. The Subject Property is improved with a freestanding, single-storey building comprised of 8,153 SF with excellent vehicular visibility and multiple points of access and egress. Majority leased to Sun Life Assurance Company of Canada ("Sun Life"), the Subject Property presents an opportunity for an investor to lease up the vacancy and capture rental upside or an owner-user to utilize the vacant space and benefit from an additional rental revenue.

Exclusively Listed By

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