Commercial Property Auction 2938 Millar Avenue, Saskatoon

Location: The Subject Property is located on the east side of Millar Avenue, between Molaro Place and 52nd Street East.

Visibility of Property: Rated as good due to its location along busy Millar Avenue, a main north-south collector street for the area.

Dimensions: The site is rectangular with approximately 155.0 feet of frontage along Millar Avenue and an average depth of 238.1 feet. Total site area is 36,917 square feet or 0.85 acres; according to assessment records.

Topography: Considered level, allowing for adequate drainage.

Utilities: All municipal services are available to the Subject.

Roadway and Parking: The site is located on a paved bi-directional roadway that does not allow on-street parking due to its busy nature. Access is not restricted, as there are no centre medians. On-site paved parking is available for approximately 15 vehicles at the front/west of the building.

Site Improvements: There is a concrete sidewalk along a portion of the front of the building, an asphalt parking lot and landscaping strip along the front of the site and a concrete apron outside of the overhead door at the back of the building. The remainder of the site has a gravel surface with a perimeter chain-link fence.

Neighbouring Uses: The Subject is surrounded by various industrial properties and conforms with its surroundings.

DESCRIPTION OF THE SUBJECT BUILDING

Year Constructed: According to City of Saskatoon assessment records, the Subject Building was constructed in 2010.

Design: Single-storey, industrial building with second level office mezzanine.

Building Size: The building footprint is 9,711 square feet with an additional 2,484 square feet of office mezzanine. The gross building area is 12,195 square feet. A 1,689 square foot steel mezzanine is also located in the warehouse.

Foundation: Foundation is assumed to be concrete piles and grade beam.

Exterior Walls/Condition: The Subject is a steel frame building with metal panel exterior with stucco and stone accents on the façade; it is rated as good.

Roof: Low sloping metal roof cover, which the site contact noted had no current issues. Accordingly, the roof cover is assumed to be in average to good condition given its age.

Interior Development: The Subject contains 2,484 square feet of average quality office space on the main floor with 2,484 square feet of office mezzanine above. The remaining 7,227 square feet is warehouse space.

Estimated Remaining Life: The Subject Property is estimated to have an economic life of 45 years, with a remaining economic life of 35 years, based on its current condition and continuing to be well maintained.

INTERIOR FINISH

Floors: Office areas are finished primarily with carpeting, ceramic tile and vinyl tile in the higher wear areas and washrooms. The warehouse has bare concrete flooring.

Walls: Painted Gyproc in the developed areas. The warehouse has metal lined walls on the lower eight feet and exposed vinyl backed insulation above.

Ceilings: Suspended ceiling tile in the developed areas. The warehouse has exposed vinyl backed insulation.

Sidewall Height: Approximately 22 feet.

Lighting: Fluorescent and incandescent with LED lighting below the steel storage mezzanine and on the exterior of the building.

Electrical: 600 amp, 3-phase main panel.

Plumbing: There are two 2-piece washrooms on the main floor along with a kitchenette in the warehouse. The second level mezzanine is plumbed for the lunchroom as well as two larger washrooms that both include shower facilities. Hot water is provided by an electric hot water heater in the mechanical room.

Heating/Cooling: Forced air furnaces with air conditioning serve the developed areas. The warehouse is heated via overhead gas fired unit heaters and cooled via a rooftop air conditioning unit. Smaller wall mounted air conditioning units are also located in the warehouse portion that is sectioned off for the copier room.

Fuel: Natural gas.