4825 47 Street, Red Deer, AB

Significant Price Reduction, Incredible Value!

The asking price breakdown is $700,000 for the building and $195,000 for the parking lot, the properties must be sold together.

Combination of an investment and potential owner/user property, this is the Park Place building, with neighboring parking lot, located in the heart of downtown Red Deer. Situated between 49th and 48th Avenues, Park Place offers a combined 13,338 SF across two floors plus a lower level. The parking lot is approximately 6,393 SF with a total of 20 spaces available and generates income monthly.

The first above ground floor (3,922sf rentable) has been occupied by a long-running law firm which has signed until August 31, 2027. The lower floor (3,850 SF total rentable) is fully leased, including Unit 100 (1,502 SF rentable), which is leased until December 31, 2026 and Unit 102 (2,348 SF rentable) is leased until February 29, 2028. The top floor remains the only space available for lease, offering an opportunity for an owner to occupy while generating income from the existing tenancies.

Efficient floor plates offer easily customizable options for all business types. Availability includes a full contiguous top floor of 4,551 SF rentable.

Park Place benefits from the wrap around windows along the north and west side, allowing for natural light to pass through. Common washrooms on each floor and have been recently renovated. Air conditioned throughout.

Total building size is 13,338sf, rentable area is 12,322sf.

The sale includes the lot immediately east of the building (4821 - 47 St), which is 6,393sf, provides parking for approx 20 vehicles and is also revenue-generating. In addition, there is more private parking available directly behind against the building, as well as beneath an overhang. The street has metered parking directly in front.