A2234186 - 2930 9 Avenue N,
Lethbridge, Alberta T1H 5E4
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
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FOR SALE $8,900,000.00
SCHEDULE PRIVATE TOUR
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Centrally located in the Industrial Park this investment property has excellent access and exposure to North Lethbridge as well as highways AB-3 and AB-4. A 3.3-acre industrial property with multiple entrances along three sides of the property’s corner profile, the site is accessible for large vehicles and accommodates logistical needs. The building itself features open warehouse space with 14’-18’ ceiling heights, overhead heaters, 600-amp electrical service, and new LED lighting throughout. There are six ground level doors, three dock-height loading docks and one declining loading dock. Sections of the yard space are fenced and gated.
This investment property features a single, long-term tenant with a strong covenant. The current net income for the property is $687,225, reflecting a capitalization (cap) rate of 7.47% based on the asking price. This net income includes a 5% administration fee. The internal rate of return (IRR) on the asking price is projected at 12.43%, incorporating a $12,000 annual management fee, a 5% vacancy allowance starting in year three, and a 3% capital expense reserve. The financial projections also assume a rental rate increase from $8.50 to $9.50 per square foot in year three, followed by annual increases of 2% for the remainder of the 10-year forecast period. The projected sale price at the end of year ten is calculated using the forecasted income at that time and a 7.5% cap rate.
DOWNLOAD Feature sheet
ESSENTIAL
| MLS®: | A2234186 |
| Price: | 8,900,000.00 |
| Type: | Commercial |
| Sub Type: | Industrial |
| Lot Size: | 143,748 sq. ft. |
| Restrictions | None Known |
| DOM | 85 |
INTERIOR SNAPSHOT
| Sq Ft: | 77,000 |
COMMUNITY DETAILS
| Address: | 2930 9 Avenue N, Lethbridge, Alberta T1H 5E4 |
| City: | Lethbridge |
| Subdivision: | Shackleford Industrial Park |
| County: | Lethbridge |
| Province: | Alberta |
| Postal Code: | T1H 5E4 |
| School: | Schools |
| Housing: | Housing Market |
| Statistics: | Real Estate Statistics |
EXTERIOR
| Year Built: | 1973 |
| Structure Type: | Industrial |
| Zoning: | I-G |
ROOM DIMENSIONS
Lot Features:
Corner Lot
Courtesy: AVISON YOUNG
Sean Gillis - RE/MAX Grande Prairie
Sean Gillis - RE/MAX Grande Prairie
VirtualTour
Recent Customer Reviews
It was a great experience to have Sean as our realtors. He moves fast, lots of communication of feedbacks during our showings.
Kassandra Lajeunesse - Buy/Sell
Sean conducts his business in a transparent and honest way. He is available at any hour of the day. He always has a back up plan ready if the first plan falls through. This foresight / contingency is extremely valuable when working on tight timelines. Would recommend Sean to anyone who is need of Real Estate Agent services.
Riley Arguin - Buy
Housing Trends
| September 16th 8:40pm |
5/5.0
It was a great experience to have Sean as our realtors. He moves fast, lots of communication of feedbacks during our showings.
Kassandra Lajeunesse - Buy/Sell
5/5.0
Sean conducts his business in a transparent and honest way. He is available at any hour of the day. He always has a back up plan ready if the first plan falls through. This foresight / contingency...
Riley Arguin - Buy
FAQs about 2930 9 Avenue N, Lethbridge, Alberta, T1H 5E4
2930 9 Avenue N MLS® A2234186 has an approximate size of 0 Sq. Ft. located in .
Nearby secondary schools include Schools & resources
There are 0 bedrooms and 0 bathrooms in this Commercial listing at 2930 9 Avenue N, MLS® A2234186.
This Commercial is priced at $8,900,000.
This property is located at 2930 9 Avenue N, Lethbridge, Alberta, T1H 5E4 in the community. View location on Google maps.
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