The TraX Multifamily/Commercial Opportunity FOR SALE 10054 79 Avenue Edmonton, Alberta
OPPORTUNITY: Cushman & Wakefield Edmonton is pleased to offer the opportunity to participate in and acquire, on a forward sale basis, the residential and commercial development know as The TraX. The six story, steel and concrete building will be constructed by Beck Developments Inc. The TraX features 100 residential units over five floors which sit atop 10,698 s.f. of main floor commercial/retail space demised to eight units. Located in the Old Strathcona district, The TraX is steps away from trendy Whyte Avenue featuring arts theatres, numerous restaurants and pubs, a wide variety of shops and services, the famous farmers’ market and a vibrant nightlife. Convenience is ensured being within walking distance to the University of Alberta, and minutes to the downtown’s financial core and government centre. The neighbourhood has always enjoyed Edmonton’s lowest vacancy rates coupled with some of the region’s highest rents.
The main floor commercial space opens onto a covered retail promenade and a beautiful large patio area. The contemporary architecture includes 12 foot ceilings and full height glazing which create an attractive streetscape. The residential component features a welcoming, open lobby with front and rear entrances, two elevators, a second floor exercise/recreational facility, nine foot ceilings, five appliances, granite counters, engineered hardwood/tile flooring, large balconies ranging from 82 - 250 s.f., and modern space planning. There are 91 underground parkade stalls, 26 paved surface stalls, and 22 bicycle racks. The TraX represents the best of high density, low impact living in Edmonton, Alberta.
ADDRESS: 10054 79 Avenue, Edmonton, Alberta LEGAL: Lots 24, 25, 26, 27, 28, 29 & 30; Block 41; Plan I17 LOCATION: Old Strathcona, just off Whyte Avenue, near the University of Alberta ZONING: DC2 (Direct Control – Designs approved by the City) FEATURES: 100 Apartment-Style Residential Units 8 Main Floor Commercial/Retail Units totalling 10,698 s.f.
MULTIFAMILY PRICE: $25,500,000
For more information, please call: Karim Bensalah Christopher Kamphius, B. Comm Associate Partner 780.702.9472 780.917.8348 [email protected] [email protected]
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to error omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by our principals. *Sales representative. The TraX Multifamily/Commercial Opportunity FOR SALE 10054 79 Avenue Edmonton, Alberta
TraX Proforma Commercial Size Rental Rate Annual Rent 10,698 s.f. $26.00/s.f. $278,148
Residential Avg. Size # of Units Size Totals Studio 520 s.f. 42 21,867 s.f. 1 Bedroom 659 s.f. 32 21,080 s.f. 2 Bedroom 834 s.f. 26 21,684 s.f. Total Rentable Space 100 64,631 s.f. Annual Rent Rent @ $1.83/s.f. $1,419,297
Residential Parking # of Stalls Annual Rent 117 $140,000
Total Rent $1,837,445 Less Vacancy at 2.25% ($41,343) Net Rent $1,796,102 Property Taxes ($140,000) Annual Operating Expenses ($230,000)
Net Operating Income $1,426,102 Capitalization Rate of 5.6%
Yields a Price of $25,500,000
MULTIFAMILY
For more information, please call: Karim Bensalah Christopher Kamphius, B. Comm Associate Partner 780.702.9472 780.917.8348 [email protected] [email protected]
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to error omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by our principals. The TraX Multifamily/Commercial Opportunity FOR SALE 10054 79 Avenue Edmonton, Alberta
Spring 2013 Rental Survey Studio 1 Bedroom 2 Bedroom Rent/s.f. Rent/s.f. Rent/s.f. Tower on the Hill N/A $1.78 $1.53 8708 106 Street Oliver Village N/A $1.64 N/A 11230 104 Avenue Windsor Park Lofts $2.40 N/A $1.89 8210 111 Street Windsor Park Plaza $1.89 $1.85 $1.90 8210 111 Street Capital View Tower $2.51 $2.07 $1.63 10711 Saskatchewan Drive Terrace Tower $2.12 $1.97 $1.60 11025 82 Avenue Average Rent/s.f. $2.23 $1.86 $1.71 The comparable rental projects above are approximately 35 years old, have 8 foot ceilings and lack ensuite laundry facilities. The TraX Avg. Rent/s.f. is $1.83
MULTIFAMILY
For more information, please call: Karim Bensalah Christopher Kamphius, B. Comm Associate Partner 780.702.9472 780.917.8348 [email protected] [email protected]
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to error omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by our principals. The TraX Multifamily/Commercial Opportunity FOR SALE 10054 79 Avenue Edmonton, Alberta
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SITE MULTIFAMILY
For more information, please call: Karim Bensalah Christopher Kamphius, B. Comm Associate Partner 780.702.9472 780.917.8348 [email protected] [email protected]
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to error omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by our principals.