Property Description

Investment/Redevelopment Opportunity

The property is located on the corner of Primrose Drive and Cree Crescent in Lawson Heights Suburban Centre. Surrounded by a healthy mix of retail, office and medical businesses, anchored by the Lawson Heights Mall, and across the street from Bishop James Mahoney High School, Kinsmen Soccer Centre and Lawson Civic Centre. Husky has occupied the property since 1994 as a gas station, convenience store and car wash. Lawson Heights Mall has seen recent development growth with newly constructed pad sites and the neighborhood boasts high tenant demand and low vacancy rate.

This property provides stabilized income while providing an excellent redevelopment or owner-occupied opportunity.

INVESTMENT PROFILE
The tenant, Husky Oil Marketing Company, a division of Husky Oil Limited, is publicly traded on the Toronto Stock Exchange. In January 2021, Cenovus Energy acquired Husky to become the third largest Canadian oil and natural gas producer and the second largest Canadian based refiner and upgrader.

Since its construction in 1984, the property at 101 Cree Crescent has been occupied for the same use.

BUILDING SIZE
±3,728 SF

LAND SIZE
±0.65 acres, (±28,185 SF)

SALE PRICE
$1,680,000.00

TAXES
$23,403 (2021)

NOI
$85,500/annum

CURRENT LEASE TERM
May 1, 2019 – April 30, 2024; no option to renew

NET LEASE
The Tenant is responsible for all operating costs.
The Tenant is responsible for any clean up costs associated with its storage and handling of fuel.

YEAR BUILT
1984

ZONING
B4

LEGAL DESCRIPTION
Surface Parcel 119065866

POSSESSION
Negotiable

    101 Cree Cr, Saskatoon, SK S7L6S5

    For Sale - Investment/Retail

    3,728 SF
    $1,680,000
    Listing ID #2407
    Todd Butler
    Contact