49
See all 49 photos
$1,799,800
Est. payment /mo
9,173 SqFt
New
1416 2 AVE S #1-3 Lethbridge, AB T1J 0E9
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,173 sqft
Price per Sqft $196
Subdivision Upper Eastside
MLS Listing ID A2336371
Year Built 1977
Property Sub-Type Mixed Use
Property Description
Exceptional commercial investment opportunity in Lethbridge's warehouse district. This offering includes 3 separate income producing buildings under one condominium structure,ideally positioned on a corner lot just off 3rd Avenue with quick access to Highway 3 (Crowsnest Trail). Combined daily traffic exceeds 40,000 vehicles across both routes,providing outstanding visibility and exposure for tenants.
Ample parking surrounds the property,benefiting both existing tenants and future customer traffic. All 3 buildings are leased,with tenants responsible for their proportionate share of property tax,insurance,and operating expenses. Rents are currently below market value,offering strong potential for income growth as leases renew.
Net operating income reflects a 5.40% cap rate at the listed purchase price of $1.8M.
The property features newer heating systems throughout,along with a partial roof replacement completed approximately 4 years ago,carrying an expected life span of 20 years. Ongoing maintenance and care are evident throughout.
The condominium structure also provides flexibility for future ownership,allowing the buildings to be sold individually down the road if desired. A rare opportunity to acquire a diversified,multi tenant asset in one of Lethbridge's most accessible commercial corridors. Be sure to checkout the YouTube video & let's discuss how we can add this amazing commercial property to your portfolio!
Ample parking surrounds the property,benefiting both existing tenants and future customer traffic. All 3 buildings are leased,with tenants responsible for their proportionate share of property tax,insurance,and operating expenses. Rents are currently below market value,offering strong potential for income growth as leases renew.
Net operating income reflects a 5.40% cap rate at the listed purchase price of $1.8M.
The property features newer heating systems throughout,along with a partial roof replacement completed approximately 4 years ago,carrying an expected life span of 20 years. Ongoing maintenance and care are evident throughout.
The condominium structure also provides flexibility for future ownership,allowing the buildings to be sold individually down the road if desired. A rare opportunity to acquire a diversified,multi tenant asset in one of Lethbridge's most accessible commercial corridors. Be sure to checkout the YouTube video & let's discuss how we can add this amazing commercial property to your portfolio!
Location
Province AB
County 0203
Zoning C-G
Direction S
Interior
Fireplace No
Exterior
Garage No
Building
Dwelling Type Mixed Use
Others
Restrictions None Known
Virtual Tour https://youtu.be/ina65guRYBA?si=FfZJ9FdoA1cQbbnr
Listed by Lethbridge Real Estate.com
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION