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Vacant-User

9820 100 Ave

9820 100 Ave, Grande Prairie, AB T8V 0T8

Listing Price: $3,990,000

Cap Rate
7.47%
Gross SF
21,550
Rentable SF
21,550
Price/Gross SF
$185.15
Lot Size
0.33 acres
Year Built
1970

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. and Royal LePage to facilitate the sale of 9820 100 Avenue, Grande Prairie, AB (the Subject Property"). The Subject Property is located in the heart of Grande Prairie’s central business district. Currently 63% occupied, the Subject Property offers considerable upside to investors or prospective owner-users, by way of future lease-up. The Subject Property occupies 0.33 acres featuring a generally rectangular configuration with frontage along 100 Avenue and designated parking along the easterly portion of the building.

Investment Highlights

  • Ability for an investor to secure an attractive in-place yield with considerable future upside by way of lease up
  • Pomeroy Inn & Suites, a successful privately-owned hotel & lodging company, operates on a completely carefree NNN lease and accounts for approximately 95% of existing NOI
  • In-place income reflects a 7.47% cap rate with the ability for investors or owner-users to increase this to over 11.52% through leasing or utilizing the currently vacant 7,848 SF of ground floor space
  • Two-storey office building complete with full height sub-grade basement, along 100 Avenue in Grande Prairie's central business district
  • Further potential to increase rental income by converting the main level theatre into office space
  • Existing owner implemented an extensive renovation and capital improvement program throughout 2015

Exclusively Listed By

Listing Price: $3,990,000

Cap Rate
7.47%
Gross SF
21,550
Rentable SF
21,550
Price/Gross SF
$185.15
Lot Size
0.33 acres
Year Built
1970

Investment Highlights

  • Ability for an investor to secure an attractive in-place yield with considerable future upside by way of lease up
  • Pomeroy Inn & Suites, a successful privately-owned hotel & lodging company, operates on a completely carefree NNN lease and accounts for approximately 95% of existing NOI
  • In-place income reflects a 7.47% cap rate with the ability for investors or owner-users to increase this to over 11.52% through leasing or utilizing the currently vacant 7,848 SF of ground floor space
  • Two-storey office building complete with full height sub-grade basement, along 100 Avenue in Grande Prairie's central business district
  • Further potential to increase rental income by converting the main level theatre into office space
  • Existing owner implemented an extensive renovation and capital improvement program throughout 2015

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. and Royal LePage to facilitate the sale of 9820 100 Avenue, Grande Prairie, AB (the Subject Property"). The Subject Property is located in the heart of Grande Prairie’s central business district. Currently 63% occupied, the Subject Property offers considerable upside to investors or prospective owner-users, by way of future lease-up. The Subject Property occupies 0.33 acres featuring a generally rectangular configuration with frontage along 100 Avenue and designated parking along the easterly portion of the building.

Exclusively Listed By

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