MLS® A2336371 · Active
1-3, 1416 2 Avenue S
Lethbridge, Alberta
$1,799,800
Source-listed price. Confirm sale or lease terms and availability.
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Property details
- MLS®
- A2336371
- Status
- Active
- Property type
- Other
- City
- Lethbridge
- Year built
- 1977
- Living area
- 9173 square feet
- Listing brokerage
- Lethbridge Real Estate.com
About this property
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! (id:65883)
Location
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Listing information provided through CREA DDF®. Listing courtesy of Lethbridge Real Estate.com. Source attribution · REALTOR.ca
Details, measurements, price and availability may change and require verification. MLS® and REALTOR® are trademarks of the Canadian Real Estate Association.