SCENARIO
Located in a bustling area of North Edmonton, the commercial property at 8203-127 Ave NW spans 5,910 SF on a 0.48-acre lot. This well-maintained building represented a lucrative investment opportunity, boasting multiple income streams from two existing tenants, a billboard sign, and a TELUS
mobility tower. Despite these attractive features, the property faced challenges: a 1,110 SF vacant lease space and the fact that the current leases were nearing their expiration, with only a couple of remaining. These factors required a strategic approach to ensure a successful sale.
SOLUTIONS
To address these challenges and attract potential buyers, the marketing strategy focused on a few critical areas. First, an accurate and competitive valuation of the property was established, reflecting both the existing and potential income. This involved a thorough analysis of the verified income from the current tenants and the projected revenue from leasing the vacant space.
The property’s high visibility, located at the intersection of 82 Street and 127 Ave, was a significant selling point. The exposure from this prime location, combined with strategically placed signage visible from all directions, ensured a steady stream of inquiries. Marketing efforts highlighted the benefits of the high-traffic location, its accessibility to major roads, and the convenience of nearby amenities. This comprehensive approach was designed to appeal to investors seeking both immediate and long-term returns.
SUCCESS
Ashley Chrunik, the listing agent, skillfully negotiated the terms, securing a deal that balanced current income and the potential future earnings from the vacant space. Despite the challenges, the property’s high exposure and multiple income streams attracted an investor. Through successful negotiation, a deal was closed, demonstrating the property’s strong investment potential.