I have listed a new property at 5 Fir STREET in Red Deer. See details here
Urgent sale. Priced to sell at $550,000. Immediate possession available. Well-located commercial property in Red Deer on a high-exposure corner lot, surrounded by established residential communities. Recently renovated with approximately $200,000 invested, offering a clean and functional space with strong upside potential. The main floor can be divided into two separate units (previously configured as such), allowing for dual tenancy and diversified rental income. The basement provides additional space for storage or supplementary use. Income potential with flexible layout (buyer to verify): • $18 – $22 per sq.ft. (approx. $43,000 – $53,000/year) • Additional income potential from basement use • Potential cap rate in the 7% – 9% range The sale includes real estate and equipment. Inventory is extra. Business is optional. Property assessment value (2025): $522,200. Strong value – priced near assessed value. Zoned C3 – Neighbourhood Convenience Commercial, allowing for a wide range of permitted uses including retail, convenience store, grocery, restaurant, café, personal services, and professional or office uses (subject to municipal approval). Offering excellent potential for future redevelopment, site intensification, or repositioning. Ideal for investors, developers, or owner-users seeking long-term upside. Sold “as-is, where-is.” Firm sale only – no conditions. Price is fixed. Property Details: • Building: 2,400 sqft • Land: 16,553 sq.ft. (0.38 acre) • Zoning: C3 – Neighbourhood Convenience Commercial Please do not approach staff. All inquiries through listing agent.