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Olds,AB T4H 1A5
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID A2216460
Originating Board Calgary
Year Built 1977
Annual Tax Amount $4,037
Tax Year 2024
Property Sub-Type Office
Property Description
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.
Location
State AB
County Mountain View County
Zoning C1
Interior
Interior Features High Ceilings,Separate Entrance,Suspended Ceiling
Heating Central,Forced Air,Natural Gas
Cooling Central Air
Flooring Carpet,Tile
Exterior
Utilities Available Cable Connected,Electricity Connected,Natural Gas Connected,Fiber Optics Available,Phone Connected,Sewer Connected,Water Connected
Roof Type Flat Torch Membrane,Flat,Tar/Gravel
Present Use Medical/Dental
Accessibility Accessible Entrance,Accessible Hallway(s),No Stairs/One Level
Total Parking Spaces 8
Building
Lot Description Back Lane,City Lot,Corner Lot,Level,Paved,Street Lighting
Foundation Poured Concrete
Sewer Public Sewer
Water Public
Structure Type Brick,Masonite
Others
Restrictions None Known
Tax ID 93003603
Ownership Private