620-626 16 Avenue NW

Calgary, AB, T2M 0J7

$2,875,000

$639 per ft²
$2,875,000
$639 per ft²
Active
Active
 - For Sale
carpenters-square
4,499 ft²
property_type
Commercial
calendar
Built 1987
Available for purchase is a single-tenant Midas location, leased on net a carefree basis, for a 5-year term, with options to renew. This is an ideal hands-free investment, with long-term redevelopment potential due to the current land-use (zoning) in-place. New, 5-year lease-term commencing November 1, 2022 • Net Operating Income: $143,968 • The tenant is responsible for repairs, improvements, and all day-to-day management • Within 650 metres of two major post-secondary institutions: Southern Alberta Institute of Technology (SAIT) and the Alberta University of the Arts • Exposure to an average daily vehicle traffic count of 48,000• Within 880 metres of the future Green Line Light Rail Transit (LRT) station at Centre Street N and 16 Avenue NW• Strategic location in a rapidly intensifying urban corridor. Midas has been a tenant since 1988. This property can be acquired with the adjacent retail strip: 630-642 16th Ave NW.
MLS® ID:
A1245227
Listed:
8/9/22
Updated:
10/6/22
Sotheby's International Realty
Corinne Poffenroth

Exterior/Building Features

Lot Size
0.31 acres lot

Other Property Details

Garage
No
Parking
N
View
N
County
Calgary
Pool
No
Zoning
C-COR1 f4.0h24

 

Courtesy of RE/MAX REALTY PROFESSIONALS, Daniel Weiner

Listing Contact:  

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Data last updated 6:00 PM UTC, 10/6/22

Sotheby's International Realty
Corinne Poffenroth
Contact