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Apartment Building For Sale at 6921 17 Avenue in Coleman, Alberta

4 Sale ID #184212
Updated 03 Mar 2024

Asking Price

$475,000

Cap Rate help The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.

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Lot Size

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Building Size

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Premise Summary

Welcome to Crowsnest Pass. Calling all developers with a passion for converting old buildings into modern living spaces! Standing tall on 1.28 acres of land in West Coleman is the old Cameron School. This 6,900 sq. ft. (above grade) & 4,500 sq. ft. below grade brick building offers multiple large windows and soaring ceilings. The undeveloped attic space (not included in the above grade sq. footage) extends the ceiling height even further increasing development potential. The building has a full concrete basement with large windows that contribute to developable space. The large lot offers considerable space to build complementary structures. The seller has completed significant due diligence to develop the property into an apartment building and some information regarding development is available. Let your imagination guide you to the possibilities this building has to offer. The property will be sold "AS IS" "WHERE IS" with no warranties or representations being provided by the seller. New shingles were installed on the pitched roof in September 2023. (id:39198)

  • MLS® : #A2045102
  • Date Listed : 30 Apr 2023

Location

Province

Alberta

City

Coleman

Address

6921 17 Avenue

Postal Code

T0K0M0

Location Highlights

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Listed by

RE/MAX REAL ESTATE - LETHBRIDGE Alberta listing

Category

apartment-buildings

Property Information

Premise Status

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With Accommodation

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Tenancy

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Lot Size

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Available Space

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Building Size

6,900

Year Built

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Years Remaining in Current Lease Term

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Renewal Options

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Operational Information

Number of Working Owners

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Current Owner - years

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FF & E help Furniture, Fixtures & Equipment that remain with the business.

Not Included

Inventory Value - approximate help Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.

Not Included

Franchise

N/A

Financial Information

Yearly Rate

$475,000

Asking Price

$475,000

Cap Rate help The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.

N/A

NOI help Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.

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Gross Revenue- annual

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Cash Flow - annual help 1 Take your “Net Income before Taxes”, then,
2 Add up all payments to: owners + interest + allowances for asset depreciation.
3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)

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EBITDA help Earnings Before Interest, Taxes, Depreciation, Amortization.

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Premises Size (square feet)

6,900

Other Information

Owner willing to Finance

N/A

Absentee Owner

N/A

Support and Training

Not Included

Growth and Expansion

N/A

Market Competition

N/A


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