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- LoopNet Team
357 Liberty Ave
Red Deer County, AB T4E 0A5
Retail Property For Sale
PROPERTY FACTS
ABOUT 357 LIBERTY AVE , RED DEER COUNTY, AB T4E 0A5
Investment Highlights -40,000 sq/ft, large format single-tenant NNN retail asset servicing the City of Red Deer and Red Deer County. - Of the total 5.43 acre site, roughly 2.19 acres on the southern parcel fronting Lantern Street remains available for future development and may be able to accommodate approximately 11,500 sq/ft of future pad buildings on-site. - Designated as Hamlet Centre Mixed Use (C1), which supports mixed-use residential, retail and office. - 100% occupied by Cineplex Entertainment (dba Galaxy Cinemas) since 2008 on a fully net lease with approximately 10 years remaining and 3×5 year options to renew thereafter. Significant upside with built-in minimum rent-escalations every 5 years. - Subject Site benefits from exposure just west of the Queen Elizabeth II Highways, Alberta’s busiest highway, which sees approximately 38,680 VPD (2017). - Red Deer has a very affluent and growing population with an average household income of $152,643 (2017) and has experienced an 11% population growth rate between 2012-2017.
