This property to be sold by unreserved auction from Edmonton, AB, October 29, 2020
1 Parcel of Real Estate:
3836± Sq Ft Building
Mixed-use Commercial
(3) Bedroom Suite
AB/Town of Olds
Auction Information
This real estate will be sold on October 29, 2020 by unreserved public auction from the Ritchie Bros. Edmonton (Nisku) auction site. Every lot will be sold to the highest bidder on auction day, regardless of price.
Property Photos
Directions
Directions to property
5018 – 50 Ave, Olds, AB
Directions to auction site:
1500 Sparrow Drive, Nisku, AB
AB/Town of Olds
c/w Excellent location, high-traffic corner property in downtown Olds, AB, with a very well maintained 3836± sq ft mixed-use building designated as a Municipal Heritage Resource property, making it potentially eligible for structural and exterior maintenance grants. The building was renovated and upgraded in 2009 to meet modern codes. The roof has been inspected annually along with the mechanical systems. Ground floor, 2687± sq ft of store front retail space with (3) private offices and coffee room, poured-in-place concrete Grade 2 bank vault and cashier's vault, 2777± sq ft basement, board room, (2) washrooms, boiler room, storage and custodian room, top floor, (3) bedroom suite with separate street entrance and power meter, hot water radiant heating and air conditioning, universal accessible, (6) parking stalls, zoned C1-Central Commercial, taxes $4,544.83.
Property Details
- 5018 – 50 Ave, Lot E1P2 Block 4 Plan 868E
- Located on the corner of 50 Ave and 51 St, downtown Olds
- Designated as a Municipal Heritage Resource property
- Original building built in 1949 with an addition added in 1970
- Town of Olds Certificate of Compliance and Real Property Report April 18, 2019
- Restrictive Covenant on Title
- Property cannot be used as a banking facility
- Building inspection 2019
Building Details
- Renovated and upgraded in 2009 and 2015
- Brick exterior, wood frame, concrete basement, tar and gravel roof
- Hot water radiant heat and air conditioning
- (2) hot water boilers (serviced annually)
- (2) air conditioning units
- All electrical is surge protected
- Cat 5 wired throughout
- Tower and connection hub
Ground floor
- Universal accessible front entrance
- 2671± sq ft
- Store front retail space
- (3) private offices
- Coffee and storage room with sink
- Bank vault with cashier's vault
- Poured-in-place concrete Grade 2 vault
- Side street entrance
Basement
- 2777± sq ft
- Separate back entrance
- Board room
- (2) washrooms
- Custodian and IT room
- File storage vault
- Utility corridor
- Boiler room
Top Floor
- Self-contained suite
- Separate street entrance
- Separate power meter
- 1149± sq ft
- Renovated 2015
- Hardwood floors
- (3) bedroom
- (1) bathroom
- Vanity sink
- Tub with shower
- Toilet
- Kitchen
- Fridge and stove
- Living room
Utilities
- Full municipal services
Parking
- (6) rear stalls
Bidders must satisfy themselves as to the exact current acres, property lines and fence locations, building sizes, taxes and assessments, zoning and permitted uses & surface lease revenue details. The information provided is a guide only.
Contact Information
-
Phil Stevens
Consignor
+1.403.556.1016 (t)
-
Jerry Hodge
Ritchie Bros. Real Estate
+1.780.706.6652 (t)
-
Brokerage:
Ritchie Bros. Real Estate Services Ltd.
Open House Information
October 7 & 22
5 – 7 PM
or View by Appointment
Download the brochure
