* Amounts are estimates only. Final payment amounts may vary.
Description
Excellent opportunity to take over a fully improved commercial space ideally suited for education-based operations, with flexibility for certain medical or professional service uses. This is an Improved Space Lease Assignment. The current leaseholder invested approximately $140,000 in professional build-out (completed August 2024), including interior classroom partitioning, electrical upgrades, plumbing improvements, and a functional multi-room layout. The substantial investment allows the next operator to significantly reduce renovation costs and open quickly.
Located in the rapidly growing Royal Vista community, this well-improved commercial unit is currently operating as an art instruction studio and is positioned within a vibrant commercial corridor, directly across from Renert School, one of Alberta’s top-ranked private schools, the unit benefits from strong family demographics, consistent student traffic, and convenient access near 112 Avenue NW with ample on-site parking.
The 1,164 sq. ft. space features reception area at entrance, three private classrooms /consultation rooms, two washrooms, three sinks (ideal for art, children’s programs), rear access door.
Lease term is 5 years with renewal option, with more than 3 years remaining. Base rent is $33 PSF (Years 1–3) and $34 PSF (Years 4–5). Operating costs estimated at $15 PSF.
Ideal for Private school, tutoring/after-school program, language academy, art, music, or enrichment studio. Also suitable for Counselling or mental health services, Physiotherapy or rehabilitation, Chiropractic or massage therapy, Acupuncture and wellness clinic. All uses are subject to landlord approval and compliance with applicable zoning and development requirements.
