Property for sale in Red Deer, Alberta. Listed at $3,500,000.
20480 sq ft · Built in 1980
MLS® 30310985
Turn-key 14-bay, 11 tenant industrial investment in Red Deer's sought-after Northlands Industrial Park. Built in 1980, this 20,480 SF single-storey Class B building offers 20' clear ceiling height on a 1.52 acre site with excellent access to 49 Avenue, Highway 11A, and the QEII Highway corridor. Fully leased to a diverse roster of established local trades and service tenants — several with 9 to 15+ years of continuous, uninterrupted occupancy — the property generates $233,480 in current annual base rent ($11.40 PSF weighted average), plus a fixed $4.50 PSF additional rent that fully recovers operating costs. Held as a single-owner bare land condominium corporation, this building can be acquired as a stabilized bulk investment or repositioned over time through a unit-by-unit strata sell-off. With Red Deer's industrial vacancy near 4% and minimal new supply given today's construction costs, well-located multi-tenant assets like this one offer a rare combination of in-place income and long-term upside in Alberta's third-largest city. Zoned I-1, Industrial Business Service Zone. (id:27495)
Listing courtesy of Century 21 Maximum · Darren Saxby
Communities.ca Inc.
Stuart Hall, REALTOR® · Licence #LIC-00651009 · Century 21 Bravo
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