Retail Condo Units For Sale
3880 - 104TH AVENUE NE, CALGARY ALBERTA
|Fully improved retail condos, built between 2015 and 2016||Long-term and stable tenants in place with weighted lease term remaining of 7.95 years, no expiring lease until 2026||A mix of tenants including medical, food service, telecom, and retail tenants||Located within the rapidly growing ethnic NE quadrant||Minutes to the Airport and Deerfoot Trail (QE11)||Projected population growth 13% in this quadrant between 2015-2020||Vibrant growing residential communities in the immediate area with both Redstone and Skyview Ranch cracking the top 10 in community growth for the 2017 Civic Census.||Close proximity to the Calgary International Airport||Good linkage to important local and regional transportation routes||Close proximity to new transit route 157 bus stop on 36th Street NE||Surrounding development will consist of other commercial projects that will include industrial and commercial uses|
|Total Sq.ft||1,400||1,400||Total Sq.ft|
|Price Per Square Foot||$525||$34.00||Rent psf|
|Mortgage (Debt)||$661,500||Mortgage (Debt)|
|Monthly Payment||$3,584||$3,966.67||Monthly Rental Payment|
|Annual Mortgage Cost||$43,003||$47,600.00||Annual Base Rent|
|Interest| Annual Lease Cost||$27,820|
In this example, at the end of Year 1- you’d have paid $44,800 in rent to your Landlord vs. paying $43,003 in Mortgage payments, of which, your mortgage was paid down $15,1835 (building your equity).
Actual mortgage payments will be depended on the qualification of buyer OAC. The example above assumes 90% Loan to value, with a 4.25% interest rate, on a 25 year Amortization and 5 year term. The information above, is simply an example and no reliance should be placed on this information for any possible legal purpose or any circumstance where loss or damage could arise as a result of reliance on this information.