$550,000
5 Fir Street
Beds
—
Baths
—
Sqft
2,403
Year
1965
Type
Business
Suite
Suite potential
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Red Deer. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Urgent sale. Priced to sell at $550,000. Immediate possession available.Well-located commercial property in Red Deer on a high-exposure corner lot, surrounded by established residential communities. Recently renovated with approximately $200,000 invested, offering a clean and functional space with strong upside potential.The main floor can be divided into two separate units (previously configured as such), allowing for dual tenancy and diversified rental income. The basement provides additional space for storage or supplementary use.Income potential with flexible layout (buyer to verify):• $18 – $22 per sq.ft. (approx. $43,000 – $53,000/year)• Additional income potential from basement use• Potential cap rate in the 7% – 9% rangeThe sale includes real estate and equipment. Inventory is extra. Business is optional.Property assessment value (2025): $522,200. Strong value – priced near assessed value.Zoned C3 – Neighbourhood Convenience Commercial, allowing for a wide range of permitted uses including retail, convenience store, grocery, restaurant, café, personal services, and professional or office uses (subject to municipal approval).Offering excellent potential for future redevelopment, site intensification, or repositioning. Ideal for investors, developers, or owner-users seeking long-term upside.Sold “as-is, where-is.” Firm sale only – no conditions. Price is fixed.Property Details:• Building: 2,400 sqft• Land: 16,553 sq.ft. (0.38 acre)• Zoning: C3 – Neighbourhood Convenience CommercialPlease do not approach staff. All inquiries through listing agent. (id:65958)
- Subtype
- Business
- Structure
- Retail
- Community
- Fairview
- Living area
- 2,403 square feet
- Lot size
- 16,553 square feet
- Lot dimensions
- 16553.00
- On market
- Apr 16, 2026
- Status changed
- Apr 16, 2026
- Annual tax
- $11,314 (2025)
- Zoning
- C-3
- Photos
- 7
- MLS#
- A2302618
- Area
- RED_DEER
Cash on cash
-6.94%
Cap rate
3.48%
GRM
16.7
Break-even rent
$3,420
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 16, 2026.