6,280 ft²Retail$2,550,000Sale
6,280 ft²
Retail
$2,550,000
Sale
Jack Voykin
JLL
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Located on the corner of Albert Street and 1st Ave N, just 2.3 KM north of Regina’s city centre, the Property includes a 28,878 square foot lot currently tenanted by CashMoney (Headlease) and Popeye’s (Sublease) in a 6,280 square foot building. With significant frontage along Albert Street that runs through the centre of Regina connecting the City north to south, the Property has a daily exposure of over 40,000 vehicles. Cap Rate: 6.5% Avg Lease Rate: $24.17 WALT: 4.6 years
The Space
Asking Price$2,550,000
Available Space6,280 ft²
Net Operating Income$167,000
Property UseRetail
SourceDirect
The Building
The Property is zoned MH which permits 4.0 FSR and up to 90% site coverage allowing for a medium intensity mixed-use development with up to 115,512 square feet of gross building permitted, provided that the development supports efficient transit use with pedestrian and bicycle access. The current tenant has five (5) years of term remaining plus an additional option to renew for a further five (5) years. The property presents an attractive opportunity for an investor to earn a stable return over the next decade and the ability to capitalize on Regina’s long term economic growth through a long term development of the Property. PLEASE CONTACT: Jack Voykin (T) +1 604 628 4330 (M) +1 604 318 7213 jack.voykin@jll.com
Property TypeRetail
Building Size6,280 ft²
Lot Size28,878 ft²
Cap Rate6.5%
Up to $500K for Saskatchewan businesses
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