Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Subdivision Point Mckay
MLS® Listing ID A2046399
Originating Board Lloydminster
Year Built 1985
Annual Tax Amount $40,579
Tax Year 2022
Property Description
The Subject Property in this case is the Riverside Club, which is a separately titled, fee simple property sitting on a 0.64-acre site with 29,325 square feet (SF) over 2 levels. The main level contains an active fitness club that has a BOMA measured size of 14,106 SF and the 2nd level has a BOMA size of 15,219 SF. The Subject Property owner is also the owner of the business operating as the Riverside Club (operating and occupying the main level). The 2nd level is leased out to a variety of medical and lifestyle tenants including Riverside Spa, Riverside Sports Therapy, and Riverside Family Practice. The Subject Property has 110 parking stalls (a combination of on-site stalls and a paved overflow parking areas leased from the City of Calgary since the 1980's).
A unique revenue generating feature of the Subject Property is the 2 licensed spaces that the Subject Property controls through two Recreation Agreements (dating back to 1989) with the Condominium Corporation of the adjacent “The Riverside Towers”. The Subject Property controls 18,656 SF space which is leased to the business operating as The Riverside Golf Centre. The 2nd licensed space is 20,475 SF and operates as 2 indoor tennis courts (managed through the Riverside Fitness Club).
This is commercial real estate investment and re-position opportunity for those investors seeking properties positioned for health/wellness and medical tenancies. There is an opportunity for an owner/user hybrid investor that sees potential for its own business on some portion of the main level of the property. This is a unique opportunity for a great NW Calgary location.
Location
Province AB
County Calgary
Area Cal Zone Cc
Zoning DC (pre 1P2007)
Interior
Inclusions NA
Exterior
Roof Type Metal,Tar/Gravel
Total Parking Spaces 110
Others
Restrictions Call Lister
Tax ID 76745698
Ownership Private
NEWLY LISTED IN THE CALGARY AREA
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REVIEWS
Justin Newman was wonderful to work with. He helped us through an emotional time as we had to sell our family home that my parents had lived in for over 50 years. His vast experience and knowledge was valuable throughout this process. He walked us through everything and answered all questions in a manner that was easy to understand. He always made himself available and we appreciated his insight. He told us what was needed to sell the home and, when we were ready, listed the home in a wide variety of online venues. The photos and drone views of the home and area were incredible and added to helping to sell our family home quickly. He held open houses in a very short period of time after listing it, and also helped us navigate the multiple offers we received. Our family home sold quickly. We have nothing but positive things to say about the honesty, trustworthiness, and integrity of Justin and would highly recommend him if you are looking to sell or buy a home. We would not hesitate to use his services again.
