601 7 St E - Office FOR SALE


Drumheller, AB T0J 0Y5
$575,000 CAD
403-294-1500
601 7 St E, Drumheller, AB for Sale
$575,000 CAD
Office - FOR SALE
1/31
null | Request Cap Rate

601 7 St E
Drumheller, AB T0J 0Y5


HIGHLIGHTS

  • Rare community-oriented retail / office / medical services location on large paved corner lot in residential area
  • Immediately adjacent to the two largest long-term seniors residential complexes in Drumheller
  • Easily convertible to residential apartments with ample land for building expansion

OVERVIEW

Fantastic opportunity to acquire a rare commercial property with roughly 9,000 square feet of space over three floors in a one-of-a-kind Drumheller location. Occupying a corner lot in one of the town’s most popular riverside residential areas, the property is two blocks from primary traffic routes, a short distance from the downtown district, and immediately across the street from Drumheller’s two senior’s lodges. The location creates unparalleled direct access to the residential community and adjacent seniors population - ideal for medical or service related businesses. This is evidenced by the current long-term main floor tenant, an Alberta Government family and community services centre. The tenanted area of the building has been renovated, however the seller delayed renovating the other floors to explore the opportunities that the large 18,600 sq.ft (0.43 acre) lot provides for building expansion or possible conversion to residential use. In addition to the commercial and expansion possibilities, Drumheller’s acute residential shortage makes this location also ideal for rental apartments or condominium conversion - providing a myriad of options for a savvy investor. Preliminary discussions with the town planning office has shown that there is ample underground capacity for both expansion or conversion, and the town expressed support for discussing both expansion and conversion options. The building itself has been well maintained, and the walk-up with lift access without elevators helps keep general operational costs down while increasing the net revenue. With windows replaced 10 years ago, efficient forced air heating systems, upgraded electrical, ample parking, and a host of current and future usage options, this is a remarkable investment you don’t want to miss!

FOR SALE DETAILS

PRICE

$575,000 CAD

PRICE/SF

$63 CAD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Day Care Center, Medical, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

ND

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Joe BellandStonepoint Real Estate TeamMore Info
403-294-1500

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Joe BellandStonepoint Real Estate TeamMore Info
403-294-1500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.