Property Details

Address: 4801 Parkwood Road, Blackfalds, AB
Status: For Sale
Price: $6,800,000
Price Per Door: $251,852
No. of Units: 27
Cap Rate: 5.34%

Building & Site Info

Parkwood Manor is a twenty-seven suite apartment building located at 4801 Parkwood Road in Blackfalds, Alberta.
It is a three storey walk-up, wood-frame construction building with balconies. The building also features an underground parkade, storage space within each suite, an elevator that services the whole building including the parkade, and an exercise room on the third floor.
To be fire safe, there are sprinkler systems throughout all suites.
The suite mix is 27 Two-Bedroom, Two-Bathroom suites that are 1,050 Square feet in size. The suites have 5 appliances each and feature a linear electric fireplace.
Parkwood Manor is situated on a 0.76 Acre parcel of land that is adjacent to the water retention pond south of Park Street. The pond forms a park area and is flooded as a skating area for the winter. To the east of the project is all park land and can be utilized for playgrounds and walking trails to connect to the Panorama Estates subdivision east of the site.

City

Blackfalds is a town in central Alberta, located approximately twenty minutes north of Red Deer. It is situation just off the Queen Elizabeth II Highway (Highway 2), which connects the central core of the province between Edmonton and Calgary.
According to the 2018 Census, the population of Blackfalds is approximately 10,125 residents. The greater Red Deer region has an approximate population of over 100,000 residents.
The economy in Blackfalds is supported primarily by the region’s agricultural and oil and gas industries. Economic opportunities in commercial, industrial, business and land development are excellent and Blackfalds is expected to continue growing substantially over the next few years.
Transportation within Blackfalds is provided by BOLT Regional Public Transport, which offers bus services between Lacombe, Red Deer and Blackfalds during the week.
Wolf Creek School District and the Red Deer Catholic School District operate four schools in Blackfalds, providing education from kindergarten to grade nine.
Services and amenities in Blackfalds include a Canada Post, a public library, skate park, multi-purpose fitness facility, outdoor aquatic centre, spray park, and Multiplex, which offers an ice rink, banquet room and Ag room. IGA, Boston Pizza, Tim Hortons, A & W also have a location in the community. Full amenities and services are located in Red Deer, which is approximately a twenty-minute drive from Blackfalds.
Blackfalds is a growing town with exciting economic opportunities and a prime location in the Red Deer region, making it an attractive community to live, work and play.

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