FOR SALE A DIVISION OF KELLER WILLIAMS SELECT REALTY 1091-1095 BEDFORD HIGHWAY BEDFORD, NOVA SCOTIA MULTI-FAMILY 16 UNITS + 2 COMMERCIAL GRANVILLE LANDING APARMENTS TOM GERARD, SIOR, CCIM Real Estate Advisor 902-830-1318 tomgerard@kwcommercial.com KW COMMERCIAL ADVISORS Young Tower, Suite 308 6080 Young Street Halifax, NS B3K 5L2 www.kwcommercialhalifax.com
EXECUTIVE SUMMARY Keller Williams Select Realty has been retained by 1195 BEDFORD HIGHWAY LIMITED, (the Vendor ) to facilitate a sale of the lands and building located at 1091 1095 Bedford Highway, Bedford, Nova Scotia. This is a rare opportunity to acquire a high quality concrete constructed mixed use multi-family apartment and office complex on the Bedford Highway in Bedford, Nova Scotia. Property Type # Units / Unit Mix 4 Storey concrete Multi-Unit Apartment with 2 commercial offices 16 x 2 Bedroom apartments 2 x commercial office suites Underground Parking 1 level underground with 19 parking stalls + 25 surface stalls Age Built in 2007 Unit Mix 1 x ground floor commercial office suite at 1,739 sq. ft. 1 x second floor commercial office suite at 1,500 sq. ft. 8 x corner residential apartment units facing the rear in the 1,358 sf range 8 x interior residential apartment units looking north and south are in the 1,069 1,090 sq. ft. range Financing Treat as clear. List Price $3,600,000 / 5% Cap / $200,000 Per Unit 2
AREA OVERVIEW HALIFAX REGIONAL MUNICIPALITY The Halifax Regional Municipality (HRM) is the largest urban centre in Atlantic Canada with a population of 414,400 people (2014 census). As the provincial capital, it is primarily service-based and is the regional headquarters for most federal and provincial government departments and is the centre of the Atlantic Region's financial community. The service sector currently represents 85% of Halifax's GDP and employment. 3
AREA OVERVIEW - BEDFORD Located in Bedford a suburban community of Halifax on the northwestern end of the Bedford Basin, an extension of the Halifax Harbour. The subject property is located about 15 km from the Halifax downtown core. The area is suburban in nature, primarily serving as a bedroom community for the economic centres of Halifax and Dartmouth. However, Bedford has a well developed commercial and retail infrastructure with 2 Regional Shopping Malls - the Sunnyside Mall and the Bedford Place Mall as well as several other smaller retail strip centres and office buildings. The area immediate to the subject property is mixed use with primarily street frontage commercial along the Bedford Highway and single and multi family residential units on the secondary streets. Bedford Place Sunnyside Mall Eon Square Bedford West Bedford Basin To: Halifax Harbour 4
THE SITE Lot Size 30,041 sq. ft. Lot Configuration Rectangular in shape with 133.9 feet of frontage. Site Improvements 25 paved surface parking. Attractively landscaped with concrete sidewalks and stone retaining walls. Site Services All municipal water and services, telephone, fire and police protection, Nova Scotia Power electricity and natural gas. 2018 Assessment $2,122,400 (Residential) $745,700 (Commercial) Zoning CMC Main Street Commercial which allows for a mix of residential and commercial uses. Approval for the subject property was obtained via a development agreement with HRM in 2003. 5
BUILDING OVERVIEW 6
BUILDING OVERVIEW Construction Style 4 Storey multi-unit residential concrete and steel frame Building Size Above Grade - 31,724 sf Basement - 6,763 sf Age Built in 2007 Foundation Poured concrete Exterior Interior Walls & Ceilings Elevator Balconies Roof Underground Parkade Brick and cement fibre board with vinyl thermopane windows. Painted or stucco textured drywall gyproc. 1 x 5 stop Otis elevator servicing all floors. Concrete with aluminum railings. Modified bitumen flat room section. Asphalt shingled pitched roof section. Ornamental mansard roof areas. 1 Level secured underground with 19 stalls (included in rent) Storage Lockers 12 x storage lockers on basement level (included in rent) 7
BUILDING OVERVIEW - EXTERIOR PHOTOS 8
BUILDING OVERVIEW Unit Mix Unit Sizes 1 x ground floor commercial office leased to Trinity Financial Planning 1 x second floor commercial office suite leased to Bedford Orthopedic Health. 8 x corner residential apartment units facing the water side. 8 x interior residential apartment units looking north and south 1 x ground floor commercial office suite at 1,739 sq. ft. 1 x second floor commercial office suite at 1,500 sq. ft. 16 x 2 Bedrooms ranging from 1,069 sq. ft. 1,358 sq. ft. Residential Unit Features All units have balconies with tinted glass railings. Kitchens have oak cabinets with 3 appliances (fridge, stove, dishwasher) In suite laundry with washer and dryer. Air exchangers in each unit. 2 x 4 piece bathrooms Laminate and ceramic tile floors in units. Common Areas High quality carpet tiles in hallways Large well lit residential common hallways are carpeted with chair rails and have attractive 2 tone color paint. Commercial Unit Features Ground Floor - Trinity Financial Planning Attractively finished with laminate flooring and painted gyproc walls. Functional layout includes: reception, large boardroom, kitchen, 2 bathrooms and 5 private offices. Serviced with independent Heat Pump system. Second Floor - Bedford Orthopedic Health Improved with reception / waiting area, washrooms and several smaller doctor/patient consulting rooms. Suite has elevator access. Serviced with independent Heat Pump system. 9
BUILDING OVERVIEW - SUITE PHOTOS 10
BUILDING OVERVIEW Heating System 2 x NTI oil fired hot water furnaces Hot water baseboard radiators 2 x 250 gallon oil storage tanks in basement. Hot Water Tanks Electrical Fire Safety Hot water storage tank supplied by furnaces. All units are separately metered. (18 total) 125 amp circuit breaker in each unit. 1 House Meter for interior and exterior common area lighting. 800 amp, 120/240 volt main entrance. Fully sprinklered throughout. Building Security Secure building intercom system and swipe cards for controlled access
BUILDING OVERVIEW LEVEL 1 FLOOR PLAN
BUILDING OVERVIEW LEVEL 2 FLOOR PLAN
BUILDING OVERVIEW LEVEL 3 FLOOR PLAN
BUILDING OVERVIEW LEVEL 4 FLOOR PLAN
BUILDING OVERVIEW PARKING GARAGE LEVEL
2018 INCOME & EXPENSES 17
2019 PROJECTED INCOME & EXPENSES * PROJECTED REVENUE ASSUMES $50.00 PER MONTH RENT INCREASE ON ALL 16 RESIDENTIAL UNITS 18
LIMITING CONDITIONS The information contained in this package was obtained from the owners and other sources deemed reliable. However, no representations, declarations or warranties are given or implied by Keller Williams Select Realty, or the owner as to its accuracy or completeness and such information should not be relied upon by prospective purchasers without independent investigation and verification. NOTE: THE ENCLOSED BUILDING PLANS WERE TAKEN FROM THE HRM DEVELOPMENT AGREEMENT AND ARE NOT TO BE TAKEN AS THE AS BUILT DRAWINGS. This information package does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require in determining whether or not to purchase the property. The owner and Keller Williams Select Realty expressly disclaim any and all liability for any errors or omissions in this package or any other oral or written communication transmitted or made available to prospective purchasers. This information package is for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the property. The owner reserves the right to remove the offering from the market at any time and is under no obligation to respond to or accept any proposal or offer to purchase the property. 19
CONTACT INFORMATION TOM GERARD, CCIM, SIOR Real Estate Advisor 902-830-1318 tgerard@kwcommercial.com KW COMMERCIAL ADVISORS Young Tower, Suite 308 6080 Young Street Halifax, NS B3K 5L2 www.kwcommercialhalifax.com KWcommercialHFX@twitter.com 20
KW COMMERCIAL ADVISORS KW Commercial Advisors, the commercial real estate division of Keller Williams Select Realty, is a Halifax, Nova Scotia based Commercial Real Estate Brokerage Team that provides real estate advisory services required by real estate Investors, Developers, Business Owners, Occupiers, Tenants and Financial Intermediaries. KW Commercial Advisers offers expertise in the Halifax, Nova Scotia Real Estate Market in Office, Industrial, Retail and Income and Investment properties. Extensive local market knowledge and experience combined with a proven track record in Asset Disposition, Project Marketing, Buyer and Tenant representation and consulting assignments, distinguish the Team at KW Commercial Advisors from its competition. Our mission at KW Commercial Advisors is to deliver practical and effective solutions to our clients real estate needs with the utmost care, professionalism and integrity. You have our dedicated real estate professionals assisting you throughout the real estate transaction - from start to the closing. Our seasoned professionals are able to offer more quality and individualized service to you in a faster and more attentive way. You will see and feel the difference when you experience our level of service and local market knowledge. To learn more about KW Commercial Advisors, please visit www.kwcommercialhalifax.com Keller Williams Realty, Inc. was co-founded in 1983 in Austin, Texas by Gary Keller and Joe Williams with the mission to build careers worth having, businesses worth owning and lives worth living for its associates. Today, Keller Williams is the largest real estate franchise company in North America, with approximately 900 offices and 170,000 associates in 31 countries around the world. In addition to exponential growth, the company continues to cultivate an agent-centric, education-based, technology-driven culture that rewards associates as stakeholders and provides clients with unrivaled real estate service. In 2017, Keller Williams was named the No. 1 training organization across all industries in the world by Training Magazine and has ranked in the top 3 training organizations for 3 consecutive years. 21