$599,000 FOR SALE

Commercial/Retail

Total Area: 7,750 ft2

4840 50 Avenue
Vermilion, AB T9X 1T6

Attention real estate investors! Don't miss out on this lucrative investment opportunity! The IMPERIAL BLOCK, a historic revenue-generating building located in downtown Vermilion, is available for sale. Built in 1912 by British capitalists, this iconic property was originally designed as a luxury office and apartment block. Over the years, it has served as a residence for figures like Mayor J.W.G. Morrison and provided accommodations for students from the Vermilion School of Agriculture. Today it continues to be a popular residence for students of Vermilion's Lakeland College and local industry such as oilfield and agriculture. Sitting on a spacious 60’ x 120’ lot, this three-story building is constructed of durable local brick from the Vermilion Brick Factory. It features a single commercial tenant on the main level, along with eight residential units above. The unit breakdown includes a variety of layouts, from spacious two-bedroom units to oversized one-bedroom and studio apartments. Additionally, the property offers the convenience of on-site coin-operated laundry facilities.With an impressive gross revenue of approximately $100,000 annually, the Imperial Block boasts a remarkable CAP rate of over 9%. This makes it a highly desirable investment opportunity for savvy real estate investors. Contact us today to discover how you can maximize your returns with this exceptional property! (id:47423)

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Listed By RE/MAX PRAIRIE REALTY
Data Provided By REALTORS® Association of Lloydminster & District
MLS® Listing Number A2114549
Last Updated Mar 13, 2024
Property Summary
Property Type Commercial/Retail

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Community Vermilion
Price History
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Detailed Information
Total Area 7,750 ft2
Listing Contract Date 2024-03-13
Municipal ID 0016052292
Plan 6647S
Property Type Other
Transaction Type For sale
Zoning Description CB
Building
Constructed Date 1912
Heating Fuel Natural gas
Size (Exterior) 7750 square feet
Total Finished Area 7750 sqft
Type Commercial Mix
Land
Total Size Unknown

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