Investment property with re-development upside: 4902 50 Ave is a three-storey commercial building with a full basement on a four-lot parcel in the heart of downtown at the corner of 49 St and Wiiliideh (formerly Franklin) Avenue. The ground floor is completely leased out with Canada Post and NAPEG as tenants. The second floor is currently a vacant, completely open, “grey box” ready for redesign and fit out to a tenant’s custom specs. There is currently an elevator shaft in place, but no elevator installed. The basement and small third floor generate additional revenue from storage space leases. The building itself is located on the front two lots with the remainder providing 38 parking stalls.

Building specs: Originally constructed in 1955 but with continuous federal government quality upgrades over the years, concrete basement, 2X6 R20 wood framing, torch on roofing with R40 insulation, heated by a Viesmann wood pellet boiler and two recently installed Buderus boilers with Riello burners for backup/peak loads, rooftop HVAC system, Kohler diesel generator system for whole building backup power, washrooms on all three upper floors, sprinkler system recently installed.

Lease details and financial statements will be available to qualified purchaser upon entering into a confidentiality agreement.