Great investment opportunity for this busy fully leased strip mall in the thriving town of Penhold, with solid long term tenants. This well constructed strip mall was built in 2014 (HAWKRIDGE MARKET SQUARE) on 1.19 acres the corner of highway 2a and Hawkridge Blvd. ( also one block from highway 42 that accesses highway QE2) in a busy shopping centre with numerous tenants in the surrounding CRU properties including Canada Post, IGA, Dairy Queen, Tim Hortons, Subway, IDA, Dentist, Doctors office etc. Penhold is a booming town located 7 minutes from Red Deer, with the relatively recent addition of a Multiplex, new High school, new residential subdivision. Population in the immediate trading area is close to 3000 people and growing with more than 6000 cars drive by everyday seasonally. The building is divided into 10 separate units each with their own HVAC (some tenants occupy more than one unit). Total building square footage is 12670 sq. ft. Tenants include Antler Hill Veterinarian Clinic, Blair's Liquor Store, Piece By Piece Nutrition Inc. , Mullets Barber Shop, Arashi Do Martial arts, Organic Oasis Spa & Salon Ltd. and Oh My Vape. This is the only strip mall in the immediate shopping district which can operate a liquor store (restrictive covenant for surrounding retail in place). CURRENTLY GENERATES $226568/YR NET INCOME WITH ESCALATORS IN PLACE. (id:47423)
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Detailed Information
Lease Type
Other, See Remarks
Listing Contract Date
2024-09-23
Municipal ID
0035657378
Ownership Type
Freehold
Plan
1321985
Property Type
Other
Transaction Type
For sale
Zoning Description
C2
Business
Business Type
Personal Services, Recreation, Restaurant, Restaurant, Retail and Wholesale, Retail and Wholesale, Service, Service
Business Subtype
Barber/beauty shop, Recreation, Deli, Restaurant, Pet & supplies, Liquor Store, Travel agency, Pet Grooming
Building
Constructed Date
2014
Construction Material
Steel frame
Cooling Type
Fully air conditioned
Exterior Finish
Stone, Stucco
Fire Protection
Full Sprinkler System
Foundation Type
Slab
Heating Fuel
Natural gas
Size (Exterior)
12670 square feet
Total Finished Area
12670 sqft
Type
Commercial Mix
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Connected
Natural Gas
Connected
Sewer
Connected
Water
Connected
Land
Total Size
1.19 acres
Acreage
Yes
Sewer
Municipal sewage system
Size of Irregular Land
1.19
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