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$ 2,500,000
Est. payment | /mo
27,788 SqFt
$ 2,500,000
Est. payment | /mo
27,788 SqFt
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 27,788 sqft
Price per Sqft $89
Subdivision Richmond Industrial Park
MLS Listing ID A2257847
HOA Y/N No
Year Built 1975
Property Sub-Type Industrial
Property Description
FOR SALE: 100% Occupied, Multi-Tenant Industrial Property on 1.92 Acres
This property offers a great opportunity for investors looking for a stable income-producing asset with upside potential through lease renewals and rent adjustments. The combination of industrial zoning, ample parking, functional layouts, and proximity to major transportation routes makes this an attractive investment in the well-established Richmond Industrial Park.
This multi-tenant property consists of two buildings with a total of 10 units, offering flexible configurations and ideal space for a variety of industrial or commercial uses. The buildings sit on a well-maintained 1.92-acre site, providing excellent access and parking.
PROPERTY FEATURES:
Size: 27,788 sq.ft. (Total) 27,269 sq.ft. Main Floor + 519 sq.ft 2nd floor (#109 )
BUILDING LAYOUT:
11043-92 Ave: Shop/Office
#109: Two-story shop/office with 2nd-floor suite (balance of property is main floor)
#111: Recently renovated, new carpet tile flooring, vinyl cove, freshly painted walls, and updated LED lighting throughout
11037-92 Ave: All Shops
8 Bays - (3 dock height, 5 grade bays)
Bays #101-104: Approx. 95' deep
Bays #105-108: Approx. 39' deep
Overhead Doors: 18 total (many with electric lift)
PARKING AND ACCESS:
Paved parking at the front and gravel at the rear
Excellent radius for bay access, providing ease of entry/exit for tenants and visitors
UTILITIES:
Water: Included in Net Costs (Note: Unit #101 has a 3" water line, Tenant pays directly)
Power/Gas: Tenants pay directly. Units #104/105 & #106/107- Common Area Maintenance (CAM) charges applied to these units
NET COSTS: Includes Building Insurance, Property Taxes, Water & Sewer, Management Fees, Exterior Repairs & Maintenance, Yard Sump, Yard Maintenance (lawn & snow), and Bank Fees
LEASE DETAILS:
NNN Leases: Tenants responsible for a proportionate share of operating expenses, including building insurance, property taxes, and other common costs
Tenants pay directly for Janitorial, Interior Repairs & Maintenance, and Garbage Removal
Shared common washroom for Units #104, #106-108 (supplies/cleaning included in their net costs)
INVESTMENT HIGHLIGHTS based on 27,269 sq.ft.:
Projected 2025 NOI: $273,811
CAP Rate: 11 %
Leases in Place for all units: Two bays leased through Dec 2025, currently well below the market rate, offering potential upside for the new owner
NOTE: #103 is vacant - Lease in place to Dec 2025. Vacant photos enclosed (#102-111) due to Tenant considerations. Well maintained building. New front building lower roof membrane replacement April 2025.
This property offers a great opportunity for investors looking for a stable income-producing asset with upside potential through lease renewals and rent adjustments. The combination of industrial zoning, ample parking, functional layouts, and proximity to major transportation routes makes this an attractive investment in the well-established Richmond Industrial Park.
This multi-tenant property consists of two buildings with a total of 10 units, offering flexible configurations and ideal space for a variety of industrial or commercial uses. The buildings sit on a well-maintained 1.92-acre site, providing excellent access and parking.
PROPERTY FEATURES:
Size: 27,788 sq.ft. (Total) 27,269 sq.ft. Main Floor + 519 sq.ft 2nd floor (#109 )
BUILDING LAYOUT:
11043-92 Ave: Shop/Office
#109: Two-story shop/office with 2nd-floor suite (balance of property is main floor)
#111: Recently renovated, new carpet tile flooring, vinyl cove, freshly painted walls, and updated LED lighting throughout
11037-92 Ave: All Shops
8 Bays - (3 dock height, 5 grade bays)
Bays #101-104: Approx. 95' deep
Bays #105-108: Approx. 39' deep
Overhead Doors: 18 total (many with electric lift)
PARKING AND ACCESS:
Paved parking at the front and gravel at the rear
Excellent radius for bay access, providing ease of entry/exit for tenants and visitors
UTILITIES:
Water: Included in Net Costs (Note: Unit #101 has a 3" water line, Tenant pays directly)
Power/Gas: Tenants pay directly. Units #104/105 & #106/107- Common Area Maintenance (CAM) charges applied to these units
NET COSTS: Includes Building Insurance, Property Taxes, Water & Sewer, Management Fees, Exterior Repairs & Maintenance, Yard Sump, Yard Maintenance (lawn & snow), and Bank Fees
LEASE DETAILS:
NNN Leases: Tenants responsible for a proportionate share of operating expenses, including building insurance, property taxes, and other common costs
Tenants pay directly for Janitorial, Interior Repairs & Maintenance, and Garbage Removal
Shared common washroom for Units #104, #106-108 (supplies/cleaning included in their net costs)
INVESTMENT HIGHLIGHTS based on 27,269 sq.ft.:
Projected 2025 NOI: $273,811
CAP Rate: 11 %
Leases in Place for all units: Two bays leased through Dec 2025, currently well below the market rate, offering potential upside for the new owner
NOTE: #103 is vacant - Lease in place to Dec 2025. Vacant photos enclosed (#102-111) due to Tenant considerations. Well maintained building. New front building lower roof membrane replacement April 2025.
Location
Province AB
County 0132
Area 0132
Zoning IG
Interior
Fireplace No
Exterior
Garage No
Building
Dwelling Type Industrial
Others
Restrictions None Known
Listed by CommVest Realty Ltd.
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REVIEWS
Justin was prompt with his responses and clear with expectation for the process. It was a smooth and enjoyable selling experience with him. I have worked with couple other realtors before and I can say with confident Justin would be who I will use for any of my future transaction.
