10219 100th Ave 77,972 SF 100% Leased Retail Building Morinville, AB T8R 1R9 $1,041,240 USD ($13.35 USD/SF)

Value-add mixed-use investment opportunity featuring 48 self-storage units, commercial storefronts, apartment units, and extensive parking on approximately 1.79 acres. Vacant and underutilized areas provide potential for renovation, expansion, and future redevelopment.
Property A (10219 – 100th Avenue) is a mixed-use development that was constructed in phases. As at the effective date, the property was demised as a former hotel that was being operated as apartment accommodations (which has now been demolished), and a strip retail section demised into six bays along the frontage onto 100th Avenue. The retail bays are occupied by two restaurants, a cannabis retailer, a phone repair/accessory retailer, one bay that is vacant that was utilized for indoor mini storage, and one bay that is vacant that was previously occupied as a religious assembly.
The upper-level residential suites consist of small studio suites with a bedroom/living space, and 4-piece washroom. The apartments are considered to be in disrepair and require renovation before leasing.
Property B (10213 – 100th Avenue) is located to the immediate east of Property A, across an alleyway. It entails a 13,020 square foot lot that has a depreciated compacted gravel surface and is being utilized as a parking lot.
Property C (9919 – 103rd Street) is located adjacent to the south (rear) of Property A and is being utilized as parking. It has a depreciated compacted gravel surface.
Property D (9913 – 103rd Street) is located adjacent to the south of Property C and serves as an extension of the parking area. Properties C and D have potential for assemblage with Property A, should demand ever warrant redevelopment of the improvements developed on Property A.