5027 Industrial Rd., Drayton Valley, Alberta T7A 1R4

Econorest Suites consist of two former office buildings converted to rental units with a total size of 6,229 sqft (4,456 sqft for both floors of bi-level building , and 1,773 sqft for single floor of single storey building). The northerly building (the larger bi-level building) has been recently been stripped (and is therefore not tenant occupied) and awaits a renovation by the new Buyer. Prior to the stripping of the northerly building it contained 12 rental units, a common kitchen, laundry room, mechanical room and two 3 piece bathrooms; one could upon renovating go back to the same composition of rooms. The southerly building (smaller single storey building) contains 5 rental units, a common kitchen, mechanical room and one 3 piece bathroom. 4 units within the single storey building are currently leased for $500 monthly each. When Econorest Suites was most recently fully leased, it generated $10,200 in monthly rental revenue. List price is $168,000 less than the 2022 municipal tax assessed value. (id:45344)