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Retail Investment Opportunity - Busy Corner in Downtown Red Deer
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Auction #
466-1 -
Lot Size:
±0.50 acres -
Transaction Fee:
5% (Min CAD $25,000) -
Broker1%
Co-op:
Retail Investment Opportunity - Busy Corner in Downtown Red Deer
Retail Property For Sale in Red Deer, AB
4808 50th Avenue, Red Deer, AB T4N 4A3FRE Auctions and Barclay Street Real Estate are pleased to present the Online Auction Plus® Event for a 7-unit Retail Plaza in downtown Red Deer, Alberta.
Property Summary:
The Roland Plaza is a beautiful 7-unit stand-alone retail building located in downtown Red Deer, Alberta. This is an excellent opportunity for an investor to create/add a significant amount of value. In addition to adding more income, the property can also be approved for future commercial condominium conversion. With a population of over 99,846, downtown Red Deer is guided by six themes: great streets, great places, great connections, vitality, authenticity, and sustainability. There are over 75 retail businesses, 30+ restaurants, 11 cafes, and 2 major grocery stores all within the downtown area.
Investment Highlights:
- Income-producing property
- Excellent value-add opportunity
- The site can also be approved for future commercial condominium conversion
- Three (3) current tenants:
- Tenant 1: 5-year lease expiring August 31 '25
- Option to renew for an additional 5 years
- Tenant 2: 5-year lease expiring June 30 '28
- Rent increases every 2 years
- Tenant 3: 39-month lease commencing July 1 '24
- Rent increase for the last 12 months
- Option to renew for an additional 3 years
- Tenant 1: 5-year lease expiring August 31 '25
Location Highlights:
- Located in downtown Red Deer at the intersection of Gaetz (50th) Ave and 48th Street with great curb appeal.
- Twenty (20) rentable surface parking stalls behind the property.
- Adjacent street parking with over 1,500 public parking stalls.
- Zoned: C1 (Commercial City Centre District) *see document section*
- ±16,000 sf retail building situated on ±23,000 sf of land.
Red Deer is a city located in the central region of Alberta, Canada, and is situated between Calgary and Edmonton along the Red Deer River. The city has a diverse economy with key industries including oil and gas, agriculture, manufacturing, healthcare, education, and retail.
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Property Viewing
If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.
If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.
Start Temporary Access AgreementFinancing
This is an Auction Plus event in which a financing contingency is permitted. On the bid form you will be asked to include financing details.
For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.
Broker of Record for this property: Barclay Street Real Estate Ltd.
All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.
We have reached our bid deadline and the seller is reviewing the bids received. It’s not too late to submit your bid. Please immediately contact the Event Manager listed below if you wish to place a bid or would like additional information.
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1Set up a free user accountFree registration with no obligation. Your account provides access to additional information and documents, as well as email updates.
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2Search & SelectThe Future of Real Estate features real estate from the USA and international. Utilize our advanced search criteria to narrow down your selection.
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3Review InformationAccess property information to make better-informed decisions. Available information varies depending on each real estate asset type.
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4Submit Deposit (if required)Prior to placing a bid, you may need to submit a deposit. Deposits can be submitted using credit card, wire transfer or check.
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5Place Online BidPlace bids on your selected asset prior to the deadline. Specifics vary for each asset.
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6Winner is DeclaredBuyer deposits purchase funds, and closing coordinator assists Buyer and Seller with final paperwork.
ADD PROPERTY TO FAVORITES
Conditions may be included with your bid
Red Deer, AB T4N 4A3
Canada
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Red Deer, AB
Canada -
Property Type: Commercial Property
-
Lot Size: ±0.50 acres
-
Transaction Fee: 5% (Min CAD $25,000)
-
Broker Co-op: 1.00%
FRE Auctions and Barclay Street Real Estate are pleased to present the Online Auction Plus® Event for a 7-unit Retail Plaza in downtown Red Deer, Alberta.
Property Summary:
The Roland Plaza is a beautiful 7-unit stand-alone retail building located in downtown Red Deer, Alberta. This is an excellent opportunity for an investor to create/add a significant amount of value. In addition to adding more income, the property can also be approved for future commercial condominium conversion. With a population of over 99,846, downtown Red Deer is guided by six themes: great streets, great places, great connections, vitality, authenticity, and sustainability. There are over 75 retail businesses, 30+ restaurants, 11 cafes, and 2 major grocery stores all within the downtown area.
Investment Highlights:
- Income-producing property
- Excellent value-add opportunity
- The site can also be approved for future commercial condominium conversion
- Three (3) current tenants:
- Tenant 1: 5-year lease expiring August 31 '25
- Option to renew for an additional 5 years
- Tenant 2: 5-year lease expiring June 30 '28
- Rent increases every 2 years
- Tenant 3: 39-month lease commencing July 1 '24
- Rent increase for the last 12 months
- Option to renew for an additional 3 years
- Tenant 1: 5-year lease expiring August 31 '25
Location Highlights:
- Located in downtown Red Deer at the intersection of Gaetz (50th) Ave and 48th Street with great curb appeal.
- Twenty (20) rentable surface parking stalls behind the property.
- Adjacent street parking with over 1,500 public parking stalls.
- Zoned: C1 (Commercial City Centre District) *see document section*
- ±16,000 sf retail building situated on ±23,000 sf of land.
Red Deer is a city located in the central region of Alberta, Canada, and is situated between Calgary and Edmonton along the Red Deer River. The city has a diverse economy with key industries including oil and gas, agriculture, manufacturing, healthcare, education, and retail.
Property Viewing
If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.
If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.
Start Temporary Access Agreement
Financing
This is an Auction Plus event in which a financing contingency is permitted. On the bid form you will be asked to include financing details.
For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.
Broker of Record for this property: Barclay Street Real Estate Ltd.
All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.