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- Industrial, Lethbridge, 9,200,000$, 0 Beds, 0 Baths – 102967034
Industrial for Sale at 2930 9 N Avenue, Lethbridge, Alberta T1H 5E4, Lethbridge
Address
2930 9 N Avenue, Lethbridge, Alberta T1H 5E4
Lethbridge
Property Type
Industrial
Price
9,200,000 $
Property Overview
MLS#
102967034
Property Type
Industrial
City
Lethbridge
Postal Code
T1H 5E4
Sqr Footage
0
Bedrooms
0
Price
9,200,000 $
Status
Active
Year Built
1973
Last Modified
2025-07-25T00:15:05Z
Property Description
Centrally located in the Industrial Park this investment property has excellent access and exposure to North Lethbridge as well as highways AB-3 and AB-4. A 3.3-acre industrial property with multiple entrances along three sides of the property’s corner profile, the site is accessible for large vehicles and accommodates logistical needs. The building itself features open warehouse space with 14’-18’ ceiling heights, overhead heaters, 600-amp electrical service, and new LED lighting throughout. There are six ground level doors, three dock-height loading docks and one declining loading dock. Sections of the yard space are fenced and gated. This investment property features a single, long-term tenant with a strong covenant. The current net income for the property is $687,225, reflecting a capitalization (cap) rate of 7.47% based on the asking price. This net income includes a 5% administration fee. The internal rate of return (IRR) on the asking price is projected at 12.43%, incorporating a $12,000 annual management fee, a 5% vacancy allowance starting in year three, and a 3% capital expense reserve. The financial projections also assume a rental rate increase from $8.50 to $9.50 per square foot in year three, followed by annual increases of 2% for the remainder of the 10-year forecast period. The projected sale price at the end of year ten is calculated using the forecasted income at that time and a 7.5% cap rate.
DOUG MERESKA
AVISON YOUNG
Listed By
AVISON YOUNG
Walk Score ®
48
Car-Dependent
Bike Score ®
39
Somewhat Bikeable
Transit Score ®
31
Some Transit
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