Property Details

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Featured in:

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5120 50 Avenue
Olds (A2216460)

$960,000
2,728 ft²
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Loan Term
Interest Rate
Loan Amount
Annual Tax
Ann. Insurance

* Amounts are estimates only. Final payment amounts may vary.

Description

Excellent commercial investment opportunity located in the heart of Uptown Olds. This 2,728 sq ft standalone building is fully leased to a long-standing physiotherapy clinic that has been in business for over 20 years. They have recently signed a new 10-year lease. The lease is complete with rent escalation in 5 years, and is a full Triple Net (NNN) agreement, has the tenant responsible for all property expenses, including taxes, insurance, and maintenance, making this a low-risk, hands-off investment for the new owner. The interior is clean, bright, and exceptionally well-maintained, featuring five private treatment rooms, an office, file storage, a reception area, a comfortable waiting space, a large exercise area with two additional treatment spaces, two bathrooms (one with a shower), and a laundry room. The building was constructed in 1977 on a slab-on-grade foundation with masonry walls and is heated by two newer forced-air furnaces with central air conditioning for comfort. The property enjoys excellent exposure, with east-facing frontage and a south-facing side allowing bright, natural southeast sunlight throughout the day. Situated in a walkable and professional area of Uptown Olds, this property is ideally located for continued use in the health services sector. Current lease rates are $21.00 per square foot for years 1–5 and $23.00 per square foot for years 6–10, with an average net operating income of approximately $60,016 per year. A great opportunity to acquire a turn-key investment with a proven tenant and reliable long-term cash flow.

Property details

Basic Info

MLS® #
A2216460
Property Type:
Commercial
Subtype:
Office
Subdivision:
NONE
Price
$960,000
Sale/Lease:
For Sale
Size:
2,728 sq.ft.
Year Built:
1977 (48 years old)

Building Info

Structure Type:
Other
Garage:
No
Fence:
Basement:
No
Features:
High Ceilings, Separate Entrance, Suspended Ceiling
Inclusions:
N/A

Acreage/Farm Info

Farm Current Use:
Medical/Dental

Lot / Land Info

Lot Features:
Back Lane, City Lot, Corner Lot, Level, Paved, Street Lighting
Water:
Public
Sewer:
Public Sewer
Utilities:
Cable Connected, Electricity Connected, Natural Gas Connected, Fiber Optics Available, Phone Connected, Sewer Connected, Water Connected
Zoning:
C1

Materials & Systems

Roof:
Flat Torch Membrane, Flat, Tar/Gravel
Exterior:
Brick,Masonite
Floors:
Carpet, Tile
Foundation:
Poured Concrete
Heating:
Central, Forced Air, Natural Gas
Cooling:
Central Air

Listing Info

Possession:
By Date Specified,Negotiable
Days on Market:
31
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Grassroots Realty Group Ltd.
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