5120 50 Avenue Olds, Alberta T4H 1A5

$960,000

Excellent commercial investment opportunity located in the heart of Uptown Olds. This 2,728 sq ft standalone building is fully leased to a long-standing physiotherapy clinic that has been in business for over 20 years. They have recently signed a new 10-year lease. The lease is complete with rent escalation in 5 years, and is a full Triple Net (NNN) agreement, has the tenant responsible for all property expenses, including taxes, insurance, and maintenance, making this a low-risk, hands-off investment for the new owner.The interior is clean, bright, and exceptionally well-maintained, featuring five private treatment rooms, an office, file storage, a reception area, a comfortable waiting space, a large exercise area with two additional treatment spaces, two bathrooms (one with a shower), and a laundry room. The building was constructed in 1977 on a slab-on-grade foundation with masonry walls and is heated by two newer forced-air furnaces with central air conditioning for comfort.The property enjoys excellent exposure, with east-facing frontage and a south-facing side allowing bright, natural southeast sunlight throughout the day. Situated in a walkable and professional area of Uptown Olds, this property is ideally located for continued use in the health services sector. Current lease rates are $21.00 per square foot for years 1–5 and $23.00 per square foot for years 6–10, with an average net operating income of approximately $60,016 per year. A great opportunity to acquire a turn-key investment with a proven tenant and reliable long-term cash flow. (id:36938)

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https://www.realtor.ca/real-estate/28245581/5120-50-avenue-olds