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7605 Henderson WAY Out Of Area, AB T4L 0K7
2 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 2 sqft
MLS Listing ID X13712678
Annual Tax Amount $35,000
Tax Year 2025
Property Sub-Type Commercial Retail
Property Description
MIDWAY COMMERCIAL LOT 2 - CENTRAL ALBERTA INVESTMENT OPPORTUNITY Ontario investors seeking a lower-cost alternative to GTA commercial real estate can consider this income-producing commercial opportunity in Lacombe, Alberta, strategically located along the QEII corridor between Edmonton and Calgary.$4.8M Asking Price | ~$250,145 Current Base Rent | ~5.21% Indicative Yield The property offers significant upside through the potential development of up to 10,000 SF of professional/medical space. Phase I could begin with 5,000 SF, estimated at $900K, with potential rent of approximately $150K annually at $30/SF. Upon completion and lease-up, projected base rental income could reach approximately $400K annually, representing an estimated 7.02% yield on the $5.7M total acquisition + Phase I development cost. The medical component represents an estimated 16.7% development yield. At a potential 6% stabilized cap rate, projected income could support approximately $6.67M in value, representing approximately $970K of potential gross value creation. Key Highlights: Existing income; Medical/professional development upside; Phased construction; Central Alberta QEII location. Lower capital entry point than many Ontario opportunities. Local property management available through MaxWell Real Estate Solutions in Red Deer. Acquire, Develop, Lease, Increase NOI, Create Value. All figures are approximate projections and subject to verification, market conditions, financing, construction costs, leasing and actual operating performance.
Location
Province AB
County Canada
Area Canada
Zoning Highway Commercial (C4)
Interior
Cooling Yes
Exterior
Community Features Major Highway
Utilities Available Yes
Lot Frontage 66.05
Lot Depth 77.81
Others
Security Features No
ParcelsYN No
Listed by MaxWell Privé