4711 - 51 Avenue
Red Deer, AB
Building
- Leasable Square Feet 25,458 sf
- Year Built 1962
- Zoning C-1 - Commercial (City Centre) District
- Site Size 0.96 acres
- Parking 36 stalls
- Recent Improvements Comprehensive renovation of the NE wing, including new; Glazing and exterior finishes; Significant lobby and corridor upgrades; Electrical upgrades throughout the building; New sprinkler system installed servicing the daycare area and corridors - New concrete sidewalks, exterior repairs, and full exterior repainting - Extensive daycare tenant improvements
Lease-Up Opportunity: Currently 40% vacant, the Property presents a meaningful value-add opportunity to increase cash flow through future lease-up at market rental rates
Stable In-Place Income :Approximately 30% of the Property is leased to a single tenant with contractual rent escalation scheduled for 2029, supporting stable income and future revenue growth
Flexible Configuration: The Property’s existing layout supports a diverse mix of retail, educational, medical, and service-commercial tenancy, enhancing long-term leasing flexibility and broadening the prospective tenant pool
Broad Commercial Utility: The Property’s flexible layout and City Centre zoning support a wide range of commercial uses, positioning the asset to accommodate evolving tenant demand over time
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