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7419 50th Ave 9,216 SF Industrial Condo Unit Offered at $1,650,000 CAD in Red Deer, AB T4P 1M5
INVESTMENT HIGHLIGHTS
- High-traffic location on Gaetz Avenue
- Modern features: 22' ceilings, drive-in doors, mezzanine
- Fully leased 9,216 sq ft industrial condo
EXECUTIVE SUMMARY
Located in the heart of Red Deer's bustling Northlands Industrial Park, Bays 4-5 at 7419 50th Avenue offer a prime investment opportunity with excellent exposure along Gaetz Avenue. This 9,216 sq ft semi-retail industrial condo, built in 1976 and zoned C4 (Major Arterial Commercial), is currently tenanted by a well-established auto body and mechanical shop with four years remaining on the lease. The property features 22-foot ceilings, two 10' x 14' drive-in doors, two man doors at the rear, and four assigned front parking stalls with additional rear parking. Enhanced with LED lighting, HVAC, and 200-amp, 600-volt three-phase electrical service, this well-maintained unit also includes a 455 sq ft mezzanine. With a cap rate of 4.6% and annual property taxes of approximately $24,541, this property is a solid, income-generating asset in a high-traffic location.
PROPERTY FACTS
| Total Building Size | 9,216 SF | Typical Floor Size | 9,216 SF |
| Property Type | Retail (Condo) | Year Built | 1976 |
| Property Subtype | Auto Repair | Lot Size | 2.94 AC |
| Building Class | C | Parking Ratio | 6.84/1,000 SF |
| Floors | 1 | ||
| Zoning | C4 Commercial - C4 Commercial (Major Arterial) | ||
| Total Building Size | 9,216 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Auto Repair |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 9,216 SF |
| Year Built | 1976 |
| Lot Size | 2.94 AC |
| Parking Ratio | 6.84/1,000 SF |
| Zoning | C4 Commercial - C4 Commercial (Major Arterial) |
1 UNIT AVAILABLE
Unit 4-5
| Unit Size | 9,216 SF | Sale Type | Investment |
| Price | $1,650,000 CAD | Cap Rate | 4.60% |
| Price Per SF | $179.04 CAD | NOI | $75,900 CAD |
| Condo Use | Industrial | No. Parking Spaces | 4 |
| Unit Size | 9,216 SF |
| Price | $1,650,000 CAD |
| Price Per SF | $179.04 CAD |
| Condo Use | Industrial |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| NOI | $75,900 CAD |
| No. Parking Spaces | 4 |
DESCRIPTION
This is a semi retail space occupied by an auto body and mechanical shop with an established tenant having 4 years remaining on the lease. There are 4 assigned front car stalls and 2, 10’X14’ driving doors at rear with an additional 2 men doors. Additional rear parking is available. The electrical capacity is 200 amps three phases 600 volts, ceiling heights 22'.
SALE NOTES
This is a solid investment because of its great exposure property which has been well maintained and in a great location, facing Gaetz Avenue. For sale at $1,650,000 at a 4.6% cap rate.
NEARBY MAJOR RETAILERS
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7419 50th Ave
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