FOR SALE
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
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SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
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SUBJECT PROPERTY
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50 Street
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44 Ave
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CO-LISTED BY: DAVID MORRIS 604 638 2123
[email protected] JON BUCKLEY
604 630 0215
[email protected] GREG SOUCIE
604 598 1684
[email protected] FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
INVESTMENT HIGHLIGHTS
OPPORTUNITY Form Retail Advisors and Grass Ridge Realty are pleased to announce the sale offering of 4801 50 Avenue located in Stony Plain, AB (the “Subject Property”). The Subject Property is a carefree, triple net investment opportunity consisting of a stand-alone building occupied by Rexall/Pharma Plus Pharmacies Ltd. (dba Rexall), secured on a long-term lease.
STONY PLAIN
18,000 +
CURRENT POPULATION
$
$116,586
AVERAGE HOUSEHOLD INCOMES
13.0
%
9.0
%
STONY PLAIN GROWTH RATE (2012-2017)
STONY PLAIN GROWTH RATE (2017-2022)
•
Freestanding Rexall drug store with drive-thru comprising 12,268 square feet of main floor area, constructed in 2011.
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1.28 acre lot located on a high exposure corner along the town’s main thoroughfare (Highway 779) and in close proximity to Parkland Highway (Highway 16A) which connects Stony Plain to Edmonton.
•
100% occupied by Rexall/Pharma Plus Pharmacies Ltd. (dba Rexall) since 2011 on a carefree, fully net, lease with term remaining until September 2031.
•
Strong corporate covenant: Rexall is a member of the Rexall Pharmacy Group Ltd., a wholly owned subsidiary of McKesson Corporation which has a market cap of 31.2B (March, 2018).
•
There are over 450 Rexall and Rexall Pharma Plus locations supported by 8,600 staff in 180 communities across Canada.
•
Phase I Environmental Site Assessment conducted by Shelby Engineering in May 2017 concluded no further investigation is required (available to qualified purchasers upon receipt of confidentiality agreement).
•
Stony Plain is located 17 kms west of Edmonton and has a very affluent and growing population with an average household income of $116,586 (2017) and a population growth rate of 13.0% since 2012.
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
SALIENT FACTS 4801 50 Avenue
MUNICIPALITY
Town of Stony Plain, Alberta
LINC
0034 269 274
LEGAL DESCRIPTION
Descriptive Plan 1021863 Block 24 Lot 1A excepting thereout all mines and minerals
SITE SIZE
55,757 Square Feet / 1.28 Acres
BUILDING SIZE
12,268 Square Feet
YEAR CONSTRUCTED
2011
PARKING
56 Parking Stalls
CURRENT ZONING
C2 - General Commercial District (Link). This district provides for a broad range of businesses and is predominately located along collector and arterials roads, and highways to provide easy access and visibility.
TENANT
Rexall/Pharma Plus Pharmacies Ltd. (dba Rexall)
OCCUPANCY
100%
49 Avenue
48 Street (Hwy 779)
CIVIC ADDRESS
50 Avenue
SUBJECT SITE
20-year term, commencing September 21, 2011.
LEASE SUMMARY
50 Avenue
Annual net rent: Years 1 to 10 at $411,908 per annum Years 11 to 20 at $453,099 per annum. The Tenant is responsible to arrange and is billed directly by service providers for all operating costs and taxes. Landlord is only responsible for roof maintenance and structural repairs.
NET OPERATING INCOME
$411,908
ASKING SALE PRICE
$6,900,000
FINANCING
Available Clear Title
TENANT HIGHLIGHTS •
Rexall is a member of the Rexall Pharmacy Group Ltd., which is a wholly owned subsidiary of McKesson Corporation. McKesson Corporation is the largest wholesaler of pharmaceutical products in Canada and is publicly traded on the NYSE with a market cap of $31.2B (March, 2018).
•
Rexall is one of Canada’s most trusted pharmacy brands with over 450 locations and 8,600 employees in 180 communities across Canada.
The Tenant is responsible to arrange and is billed directly by service providers for all operating costs and taxes. Landlord is only responsible for roof maintenance and structural repairs. Financing:
SITE PLAN
Clear title. Site Plan
Location Maps
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
SALE FORFOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
SINGLE-TENANT INVESTMENT OPPORTUNITY 4801 50 AVENUE | STONY PLAIN, AB
DRIVE: Time to Edmonton: 40 mins Time to Red Deer: 1 h 50 mins Time to Calgary: 3 h 25 mins
STONY PLAIN ST. ALBERT
16
y2
wa
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Highway 779
Hi
EDMONTON
Highway 16
STONY PLAIN
SPRUCE GROVE
RED DEER
EDMONTON Highway 16A
SUBJECT PROPERTY
CALGARY MEDICINE HAT
KELOWNA
LETHBRIDGE
VANCOUVER VICTORIA
FORM RETAIL ADVISORS 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6
GRASS RIDGE REALTY 12656 - 55 AVENUE SURREY, BC V3X 3M7
T 604 638 2121 F 604 638 2122 FORM.CA
T 604 598 1684 M 604 307 8248
USA The information contained herein has been prepared by Form Retail Advisors Inc. for advertising and general information only. Form Retail Advisors Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Form Retail Advisors Inc. excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This communication is not intended to cause or induce breach of an existing listing agreement.