3731 50 Avenue
Red Deer, Alberta
MLS® A2293080
$6,590,000
- Status
- Active
- Property type
- Business
- MLS® number
- A2293080
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1962
1 / 2Listing description
A rare high-yield commercial investment located directly within the growth corridor surrounding the Red Deer Regional Hospital Centre Redevelopment — one of Alberta’s largest healthcare infrastructure upgrades. This major provincial investment is expected to significantly increase demand for medical, professional, hospitality, and mixed-use development in the immediate area, directly benefiting this property’s long-term value. The site is 1.
94 acres within the C4 – Major Arterial Commercial Zone, fully leased to three stable tenants: a Japanese restaurant, a bakery & café, and a bar & lounge, generating net rental income of $374,524/Y. The building was originally constructed in 1962, with substantial renovations completed in 1998–1999, 2005, 2008, and 2014, ensuring ongoing functionality and tenant appeal. A major advantage of this offering is the large portion of vacant land included on the site.
This additional land provides exceptional potential for future development, including:-Medical-professional centre supporting the expanding hospital district,-Rental condominium or apartment complex,-Mixed-use commercial with residential above, Specialized healthcare services or clinics,- Underground parking or walkout-level development, enabled by the site’s natural grade,The property’s topography offers an ideal foundation for walkout basements and subterranean facilities, reducing construction complexity and enhancing design flexibility. The C4 district is intended for high-visibility, high-traffic commercial uses along major transportation corridors. It supports businesses that benefit from strong exposure and easy access.
C4 – Major Arterial Commercial Zone OverviewThis zone is designed to accommodate high-traffic commercial developments along major roadways. It typically supports businesses that benefit from visibility and accessibility. -Permitted Uses: Retail stores and service shops, Restaurants and cafes, Hotels and motels, financial institutions, Medical a nd professional offices, Automotive sales and service,
Property summary
- MLS® number
- A2293080
- Property type
- Business
- Building type
- Retail
- Leasable Area
- 15,513 sq ft
- Title
- Freehold
- Land size
- 1.94 acres
- Built in
- 1962
- Annual property taxes
- $84,681.69
- Days on market
- 29 days
What would this home cost you?
Based on the $6,590,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of MaxWell Canyon Creek, CALGARY.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.