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135 Leva Ave 7,935 SF 83% Leased Retail Building Red Deer County, AB T4E 1B9 $3,300,000 CAD ($415.88 CAD/SF) 7.78% Cap Rate
Investment Highlights
- Freestanding commercial building comprised of 7,935 SF of leasable area situated on a 1.91 acre lot with ample surface parking
- Binding License Agreement in-place with Tesla for installation of 12 supercharger stalls.
- Situated in a bustling retail hub known as “Gasoline Alley” alongside notable area tenants such as Tim Hortons, Starbucks, Wendy’s and numerous others
- The tenants are operating on completely NNN leases, providing the landlord with a stable and consistent revenue stream.
- Immediate proximity to highway 2 benefitting from over 25,000 VPD capturing a significant volume of traffic
Executive Summary
Marcus & Millichap Western Canada NNN Group is pleased to present the opportunity for an investor to acquire 135 Leva Avenue, Red Deer, Alberta (the “Subject Property”). The Subject Property is tenanted by Smitty’s, a national casual dining restaurant chain with over 80 locations across Canada, and is complemented by Tempo, an independent fuel operator serving Western Canada since 1960. The Subject Property is located in Red Deer’s 'Gasoline Alley', along Highway 2 - one of Alberta’s busiest transportation corridors and is surrounded by major national and regional retailers.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,935 SF
Building Class
B
Year Built/Renovated
1999/2011
Price
$3,300,000 CAD
Price Per SF
$415.88 CAD
Cap Rate
7.78%
NOI
$256,628 CAD
Percent Leased
83%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.91 AC
Zoning
C-3 - Neighbourhood Commercial Zone
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
1 of 8
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135 Leva Ave
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