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For Sale · Retail

1, 1, 229 First Avenue, Spruce Grove

1, 1, 229 First Avenue, Spruce Grove, AB T7X2K6

$292,500 total

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Asset Class

Retail

Size

—

Building class

Zoning

CB1 — Low Intensity Business

$ / SF

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Occupancy

95%

Year Built

1961

Lot Size

0.1 ac

About this property

Business Alert!!! Awesome Location and Great Business!!! A True Turn-Key Opportunity!!! Hyperspace Comics and Games is Spruce Grove and Areas Best Place for Comics, Games and Collectables. More than a Retail Store, it is a safe and enjoyable place for theCommunity of Gaming and the Love of Comics. Right on Highway 16A which has over 30,000+ vehicles driving by every day. Inventory is filled with Games,Comics, Original Artwork and Collectables. From Dungeon and Dragons to Star Wars and everything in between, you will find it here. Easy access to SpruceGroves Downtown. The Expanding Downtown is a Happening Place and You could be part of it!!! With more and more growth in Spruce Grove, this is The Destination Comics and Gaming Store!!! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate

Purchase price$293K

Down payment30% · $88K

Interest rate6.25%

Amortization25 years

Occupancy95%

Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$19K

Annual cash flow

$3K

Cash-on-cash

3.48%

DSCR

1.19

Going-in cap

6.59%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

98,359

Households

41,805

Median income

$81,500

Median age

40.8

Daytime population

109,308

5-yr growth

0.7%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 1, 1, 229 First Avenue, Spruce Grove.

NDA required

Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.