REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 960,000
Est. payment /mo
Active
5120 50 Avenue Olds, AB T4H1A5
2,728 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 2,728 sqft
Price per Sqft $351
MLS® Listing ID A2216460
Originating Board Calgary Real Estate Board
Year Built 1977
Property Sub-Type Freehold
Property 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. (id:24570)
Location
Province AB
Rooms
Kitchen 0.0
Interior
Heating Central heating, Forced air,
Cooling Central air conditioning
Flooring Carpeted, Tile
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 8
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Freehold
Virtual Tour https://youriguide.com/5120_50_ave_olds_ab_homexmedia/
Listed by CIR Realty
GET MORE INFORMATION