FOR SALE

MULTI-TENANTINDUSTRIALBUILDING

Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation express or implied is mad to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property for properties in question. March 26, 2021

JUDICIAL LISTING

20,813 SF Value add Investment

$1,300,000.00

Cushman & Wakefield EdmontonSuite 2700, TD Tower10088 102 AvenueEdmonton, AB T5J 2Z1 cwedm.com

6803 78 Avenue, Edmonton, AB

Adrian AmbrozukAssociate Partner 780 733 6406 adrian.ambrozuk@cwedm.com

Two storey

Concrete block construction

Wood and concrete exterior

20,813 SF over two floors

Two overhead doors, both grade loading

Secure fenced yard area at building rear

This 1978 building is located in an industrial area in SE Edmonton,

just east of Argyll Road

PROPERTYHIGHLIGHTS

MUNICIPAL ADDRESS6803 78 Avenue NW,

Edmonton AB

LEGAL DESCRIPTIONPlan 4194RS; Block 7; Lot 11

ZONINGIB - Industrial Business

NEIGHBOURHOODGirard Industrial

BUILDING SIZE20,813 SF

PROPERTY DETAILS

BUILT1978

PROPERTY TAXES$34,052.58 (2019)

PROPERTY TAX ASSESSMENT$1,597,500.00 (2020)

LOT AREA0.58 Acres

UTILITIESFull municipal services

Two storey design, four unit demised industrial building with original

second floor office space. The north bay contains ±5,700 SF on the main

floor and is designed with small office areas with the majority of the

original open office space having flooring removed. The second floor

has numerous offices in an original, dated condition with a common hallway and common

washrooms. The middle bay contains ±2,720 SF on the main

floor and contains a front office area and undeveloped

rear storage. The second floor is ±1/2 developed.

The third bay is largely an open auto repair bay

with partial office on 2 floors.

PROPERTY DESCRIPTION

LEASES AND INCOMEThe subject is leased on a partial

net basis excluding property taxes. The subject is partially tenant occupied

on a month to month basis including the north bay main floor leased on a

non-arms-length basis to the owner for $4,400 per month. The middle bay is

leased for $2,000 per month and the rear auto bay is leased for $2,000 per month.

There is one second floor office leased at $500 per month gross with the remainder

being vacant.

Based on the above lease rate indicators and considering the old age of the subject

building, a triple net market lease rate of $8.00 per square foot for the main floor and

$6.00 per square foot for the second floor appears well supported and reasonable.

Potential Net Annual IncomeFloor Leasable Area (SF) Lease Rate Gross Income

Main 10,645 SF $8.00 $85,160

Second 10,168 SF $6.00 $61,008

$146,168Potential Net Income:

The market rental rate for the subject is based on current rental rates in addition to prevailing rental rates for similar located properties within similar locations.

VEHICLES PER DAY1,900 on 76 Avenue 42,600 on

Sherwood Park Freeway

AVERAGE INCOME

1km 3km 5km

$90,110 $98,740 $102,986

POPULATION

1km 3km 5km

3,589 32,979 107,178

DEMOGRAPHICS PROPERTY PHOTOS

Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price,rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. March 26, 2021

Adrian AmbrozukAssociate Partner

780 733 6406 adrian.ambrozuk@cwedm.com