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5233 49 Avenue, Red Deer, AB, T4N 6G5
MLS® # A1164643
Commercial For Sale In Downtown, Red Deer, Alberta
$2,450,000
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
5233 49 Avenue, Red Deer, AB
  • Advertising
5233 49 Avenue, Red Deer, AB, T4N 6G5
$2,450,000

Property Information:

This property has a premium location with high visibility on one of Red Deer's most trafficked thoroughfares - 49th Avenue. It is complemented by some 40 ground level parking spaces as well as metered parking along 53rd Street. The location is convenient to all downtown amenities including City Hall, the Provincial Building, the Court House and Library. The attractive two story office building of 9,774 square feet is situated on a corner lot measuring 100 x 128 feet. The parking spaces are located adjacent to the building (east) and on a 75 x 128 foot lot one half block east on 53rd Street. The building has been continuously occupied by a law firm since its construction in 1980, the current tenant, ALTALAW, being the successor to the original law firm and tenant. The Main/Ground floor consists of a Reception/Waiting area, Board Room, Signing Room, Photocopy Room, 2 Washrooms, Storage Room and 7 Offices. The 2nd floor consists of a Signing Room, Photocopy Room, Library, Kitchen, Storage Rooms and 9 Offices. The building has been well maintained throughout its history and has recently received a major exterior renovation with new siding, roof replacement (2016) and just completed window and door replacement giving the building attractive curb appeal. The current partnership, ALTALAW, entered into a new 5 year triple net lease effective May 1, 2021 with an option to renew following its expiration on April 30, 2026. There is a separate lease in respect to the parking lot location one half block east on 53rd Street which is utilized for staff parking and storage. (Current NNN is $9.36 per SQ. FT. ) The Parking Lot Lease runs for the same term (and renewal) as the Building Lease. Property Taxes are for the Office Building and Parking Lots which are being sold all together. Parking Lots: 4814-53rd Street. LINC #0015 576 459, 4812-53rd Street LINC #0015 576 459, and 4808-53rd Street LINC #0015 576 441 (Legal Description Lots 15, 16, & 17, Block 31, Plan K). R.P.R. Dated January 25, 2000.

Inclusions: N/A

Property Features:

  • Built in: 1980
  • Floor Space (approx): 9744.00 Square Feet
  • Lot Size: 12800.00 Square Feet
  • Zoning: C1

Courtesy of: Century 21 Maximum

Data provided by: Central Alberta REALTORS® Association 4922 45 St., Red Deer, Alberta T4N 1K6
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind. Copyright© 2021 All Rights Reserved

Market Price Trends

Location of 5233 49 Avenue, Red Deer, AB, T4N 6G5

Demographic Information of 5233 49 Avenue, Red Deer, AB, T4N 6G5

Life Stage

Later Years

Employment Type

Service Sector

Average Household Income

$52,926.77

Average Number of Children

0.62

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

33.69 %

High school certificate or equivalent

37.58 %

Apprenticeship trade certificate/diploma

7.19 %

College/non-university certificate

10.98 %

University certificate (below bachelor)

2.99 %

University Degree

5.86 %

Commuter

Travel To Work

By Car

63.0 %

By Public Transit

1.95 %

By Walking

18.7 %

By Bicycle

0.0 %

By Other Methods

16.35 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

89.4 %

Houses

9.27 %

Own Vs. Rent