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12866 Fort Rd NW

9,450 SF 100% Leased Retail Building Edmonton, AB T5A 1B1 $1,570,016 USD ($166 USD/SF)

Investment Highlights

  • Redevelopment potential for splitting into CRUs or condo conversion

Executive Summary

Property has redevelopment potential to convert into 4-5 retail CRUs - potential 8.6% cap rate with lease rates stabilized at $20 net
Owner will vacate the premises for a new owner or leaseback
Significant renovations have been completed to the property in 2014/15, with costs previously provided by the property owner, including a new roof (cost $130,000.00), exterior façade and signage ($220,000.00), resurfacing the parking area ($27,000.00), new overhead doors ($24,000.00). In addition, approximately $130,000.00 in upgrades has been completed to the flex/warehouse bay (including new lighting, electrical, and concrete work) and significant upgrades have been completed to the interior of Buffet Royale. Parking ratio is 1.58 per 1,000 Sq.Ft.
Building is concrete block construction on a concrete grade beam foundation on concrete piles, and a concrete slab. Siding is painted concrete block. Roof is flat deck with SBS membrane. The building was constructed in 1975.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,450 SF
Building Class
B
Year Built
1975
Price
$1,570,016 USD
Price Per SF
$166 USD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.44
Land Acres
0.49 AC
Zoning
DC1 - Direct Control
Parking
15 Spaces (1.59 Spaces per 1,000 SF Leased)
Frontage
126 FT on Fort Road

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Buffet Royale Carvery
  • Retailer
  • -
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Buffet Royale Carvery Retailer - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 3,925-9,450 SF
  • Retail
  • -
  • 30 Days

Significant renovations have been completed to the property in 2014/15, with costs previously provided by the property owner, including a new roof (cost $130,000.00), exterior façade and signage ($220,000.00), resurfacing the parking area ($27,000.00), new overhead doors ($24,000.00). In addition, approximately $130,000.00 in upgrades has been completed to the flex/warehouse bay (including new lighting, electrical, and concrete work) and significant upgrades have been completed to the interior of Buffet Royale. Parking ratio is 1.58 per 1,000 Sq.Ft. Building is concrete block construction on a concrete grade beam foundation on concrete piles, and a concrete slab. Siding is painted concrete block. Roof is flat deck with SBS membrane. The building was constructed in 1975.

Space Size Space Use Position Available
1st Floor 3,925-9,450 SF Retail - 30 Days

1st Floor

Size
3,925-9,450 SF
Space Use
Retail
Position
-
Available
30 Days

1st Floor

Size 3,925-9,450 SF
Space Use Retail
Position -
Available 30 Days

Significant renovations have been completed to the property in 2014/15, with costs previously provided by the property owner, including a new roof (cost $130,000.00), exterior façade and signage ($220,000.00), resurfacing the parking area ($27,000.00), new overhead doors ($24,000.00). In addition, approximately $130,000.00 in upgrades has been completed to the flex/warehouse bay (including new lighting, electrical, and concrete work) and significant upgrades have been completed to the interior of Buffet Royale. Parking ratio is 1.58 per 1,000 Sq.Ft. Building is concrete block construction on a concrete grade beam foundation on concrete piles, and a concrete slab. Siding is painted concrete block. Roof is flat deck with SBS membrane. The building was constructed in 1975.

Walk Score ®
Very Walkable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

StorageMart
Lucky
Starbucks
Tony Roma's
Taco Time
CIBC
Sunbelt Rentals
Tim Hortons
TD Canada Trust
Nando's
  • Listing ID: 19042287

  • Date on Market: 3/28/2020

  • Last Updated:

  • Address: 12866 Fort Rd NW, Edmonton, AB T5A 1B1

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