Overview

Description

This property is listed for sale via an online auction. For more information and to review the data room, visit https://fre.com/445D13.

The Future of Real Estate (FRE) and Avison Young are pleased to present the Online Auction Event for the Jasper Place Hotel in Edmonton, AB.

The Jasper Place Hotel is a former two-storey hotel that features a lobby, tavern, and two retail units on the main floor, 35 unfinished rooms on the second floor, and a basement component. The property is located 6.1km west of Downtown Edmonton, offers excellent exposure onto the main arterial of Stony Plain Road, and is within walking distance of future LRT Valley Line-West stations. The hotel is located in Jasper Place, an established community where people live, work, and play.

For the virtual tour of the property, please click here: https://app.cloudpano.com/tours/yNKjddMtbM

INVESTMENT HIGHLIGHTS

- ±28,497 square foot site located in a transit-oriented development (TOD) area
- 35 unfinished hotel rooms ready for reconstruction
- ±25,727 SF (total - above grade) of main and second-floor area with an additional ±13,290 square feet of basement
- The second floor was demolished back to the studs after a fire in 2019
- Property taxes (2022 est.) - $40,040.65
- Built in 1953
- Wood frame construction
- Zoning - CB1 (Low Intensity Business Zone).
- The property is part of the Stony Plain Road commercial corridor, which is currently undergoing a revitalization process and will soon include LRT Valley Line-West stations. The planned enhancements for Stony Plain Road aim to transform it into a vibrant and bustling commercial street through pedestrian-oriented mixed-use development. These improvements will enhance the appeal of the urban area and bring in a larger population to support local businesses.

Highlights

• Redevelopment opportunity
• Near future LRT stations

Documents

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