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120 1st Ave NE 6,500 SF Retail Building Airdrie, AB T4B 0R6 $1,550,000 CAD ($238.46 CAD/SF) 4.88% Cap Rate
Investment Highlights
- 6 parking spots at back
- Up and coming BRZ area
- Current lease is under market
Executive Summary
This building is located in Downtown Airdrie - a 2020 built commercial building on 50 ft frontage lot. There are 6 parking spots in the back. There are currently two business tenants on the property, and this property is meant for investment purposes only as the tenants will not leave. The spaces are leased until 2028! The tenants include one laundry mat, and one fast food restaurant.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
6,500 SF
Building Class
C
Year Built
2020
Price
$1,550,000 CAD
Price Per SF
$238.46 CAD
Cap Rate
4.88%
NOI
$75,600 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
1.00
Lot Size
0.15 AC
Zoning
M3 - Commercial
Parking
4 Spaces (0.62 Spaces per 1,000 SF Leased)
Frontage
48’ on 1st Ave
Amenities
- Signage
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
1 of 6
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120 1st Ave NE
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