Rotate your device back to portrait Mode!
Rotate your device back to portrait Mode!
BROKERS Register for FREE
BrokerStudio
Suite of tools & services
Benefits
Asking Price
$2,300,000
Cap Rate
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
Lot Size
N/A
Building Size
N/A
Premise Summary
This property has a premium location with high visibility on one of Red Deer's most trafficked thoroughfares - 49th Avenue. It is complemented by some 40 ground level parking spaces as well as metered parking along 53rd Street. The location is convenient to all downtown amenities including City Hall, the Provincial Building, the Court House and Library. The attractive two story office building of 9,774 square feet is situated on a corner lot measuring 100 x 128 feet. The parking spaces are located adjacent to the building (east) and on a 75 x 128 foot lot one half block east on 53rd Street. The building has been continuously occupied by a law firm since its construction in 1980, the current tenant, ALTALAW, being the successor to the original law firm and tenant. The Main/Ground floor consists of a Reception/Waiting area, Board Room, Signing Room, Photocopy Room, 2 Washrooms, Storage Room and 7 Offices. The 2nd floor consists of a Signing Room, Photocopy Room, Library, Kitchen, Storage Rooms and 9 Offices. The building has been well maintained throughout its history and has recently received a major exterior renovation with new siding, roof replacement (2016) and just completed window and door replacement giving the building attractive curb appeal. The current partnership, ALTALAW, entered into a new 5 year triple net lease effective May 1, 2021 with an option to renew following its expiration on April 30, 2026. There is a separate lease in respect to the parking lot location one half block east on 53rd Street which is utilized for staff parking and storage. (Current NNN is $9.36 per SQ. FT. ) The Parking Lot Lease runs for the same term (and renewal) as the Building Lease. Property Taxes are for the Office Building and Parking Lots which are being sold all together. Parking Lots: 4814-53rd Street. LINC #0015 576 459, 4812-53rd Street LINC #0015 576 459, and 4808-53rd Street LINC #0015 576 441 (Legal Description Lots 15, 16, & 17, Block 31, Plan K). R.P.R. D ated January 25, 2000. (id:39198)
Location
Province
Alberta
City
Red Deer
Address
5233 49 Avenue
Postal Code
T4N6G5
Location Highlights
N/A
Listed by
Century 21 Maximum Alberta listing
Category
Property Information
Premise Status
N/A
With Accommodation
N/A
Tenancy
N/A
Lot Size
N/A
Available Space
N/A
Building Size
9,744
Year Built
N/A
Years Remaining in Current Lease Term
N/A
Renewal Options
N/A
Operational Information
Number of Working Owners
N/A
Current Owner - years
N/A
FF & E
Furniture, Fixtures & Equipment that remain with the business.
Not Included
Inventory Value - approximate
Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.
Not Included
Franchise
N/A
Financial Information
Yearly Rate
$2,300,000
Asking Price
$2,300,000
Cap Rate
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
Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.
N/A
Gross Revenue- annual
N/A
Cash Flow - annual
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)
N/A
EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
N/A
Premises Size (square feet)
9,744
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
Save this Listing
Why this Marketplace was Created
Frustrated by the timely process of searching for businesses and commercial properties on the market, the founders at Businesses 4 Sale created a platform to transform the business/commercial property buying and selling experience. The database compiles the most relevant information from multiple industry sources, making it easy for future business/commercial property owners and sellers to find exactly what they are looking for.
