West End Commercial Building and Automotive Buy & Sell – Safety First Projects 19 Ltd.

LOCATION: 4814 & 4818 62 Street Stettler, AB
PURCHASE PRICE: $2,450,000 ($2,672,694 All In Costs)
APPRAISED VALUE: $2,670,000
TOTAL CAPITAL INVESTED: $1,080,000
CASH ON CASH RETURN: 7.6% (Average over ten years)
COMPOSITE RETURN: 11.3% (Cash on Cash plus Equity Gain through paying down loan principle – Average over ten years)
TENANCY: Jensen Interiors Ltd, Appleway Dental Clinic and Automotive Buy & Sell
YEAR BUILT:  W.E.C building in 2015, Automotive Buy and Sell in 2018
FOOTAGE: 11,024
LAND SIZE: 1 Acre

 

The Story:

In March of 2022 Warren Marshall of our office brought this property to our attention. This property had just signed a long term lease to Appleway Dental and peaked our interest. After meeting with the owner and agent at the property we quickly realized the strength of the local tenants and put together a deal with some creative strategies.  The combination of long term leases, newer buildings and strong local tenants makes this property a great fit for our Joint Venture community.