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5056 50 ST Innisfail, AB T4G 1S7
2,357 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 2,357 sqft
Price per Sqft $173
Subdivision Downtown Innisfail
MLS Listing ID A2330005
Year Built 1967
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Office
Property Description
Rare fully-occupied investment offering in downtown Innisfail. This 2,357 SF freestanding building sits on a high-visibility corner lot at the west entrance to town on Main Street,with three-sided signage exposure. Occupied by the Alberta Government under a licence agreement generating $32,400/year (7.9% cap rate at asking),with scheduled increases to $34,800/year by 2028/29. Property tax partially exempt while government-occupied,keeping carrying costs low for ownership. Recent capital investment includes ~$100,000 in renovations and two HVAC units being replaced new ahead of listing,removing near-term capital risk for a new owner. A low-maintenance,essential-service tenant hold,priced to reflect current small-town Alberta cap rates.
Location
Province AB
County 0263
Zoning CB
Interior
Fireplace No
Exterior
Garage No
Building
Dwelling Type Low Rise (2-4 stories)
Others
Restrictions None Known
Listed by Century 21 Maximum