40,874 ft²Office$4,800,000Sale
40,874 ft²
Office
$4,800,000
Sale
Humaira Naikyar
The Space
Asking Price$4,800,000
Available Space40,874 ft²
SourceRealNex
The Building - New Place Park
New Park Place is a fully leased, multi-tenanted suburban office building. The 40,874 SF building sits on a 2.67-acre site and is occupied by four tenants with staggered lease expiries through 2028–2029. The property generates stable rental income from a strong, diversified tenant base that includes provincial government agencies and a major energy company.
In 2025 New Park Place is projected to deliver gross rents of $1.023M, with base rent $440K and operating cost recoveries $583K. After a 5% vacancy and structural allowance, net operating income (NOI) is $388K, yielding a Cap Rate of 8.09% on the $4.8M asking price.
Property TypeOffice
Building Size40,874 ft²
Lot Size2.67 AC
Up to $500K for Alberta businesses
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