47 Street, Red Deer, AB

Combination of an investment and potential owner/user property, this is the Park Place building, with neighboring parking lot, located in the heart of downtown Red Deer. Conveniently located near the intersection of 49 Ave and 47 Street, this property is easily accessible and unlike many other buildings has the benefit of being able to offer parking. Designed with a lower level consisting of two lease units, and two above ground floors, each catering to a single tenancy. The first above ground floor (3,922sf rentable) has been occupied by a long-running law firm which has a lease in place until August 31, 2027. The top floor (4,551sf rentable) is now available for lease, which presents the opportunity for an owner to occupy themselves while collecting revenue from the other tenancies. Both of the above ground floors are fully developed with offices, many of which have large windows from the floor almost to the ceiling. There is a variety of other rooms and features. One of the units in the lower level is occupied by long term financial planning tenant, with a current term until December 31, 2024 (1,502sf rentable), and the last unit (2,348sf rentable) has just been leased until January 31, 2028. These spaces are uniquely designed and have windows. The washrooms on all floors have been recently upgraded. Air conditioned throughout. Total building size is 13,338. The sale includes the lot immediately east of the building (4821 - 47 St), which is 6,393sf, provides parking for approx 20 vehicles and is also revenue-generating. In addition, there is more private parking available directly behind against the building, as well as beneath an overhang for covered parking. The street has metered parking. Other ownership opportunities of the property may be available. The asking price breakdown is $995,000 for the building and $200,000 for the parking lot, the properties must be sold together.