886 Heritage Blvd W - Storefront FOR SALE


Lethbridge, AB T1K 7V5
$3,325,000 CAD
403-330-3338
886 Heritage Blvd W, Lethbridge, AB for Sale
$3,325,000 CAD
Storefront - FOR SALE
1/7
null | 4.98% Cap Rate

886 Heritage Blvd W
Lethbridge, AB T1K 7V5


HIGHLIGHTS

  • Heritage Heights Plaza West is located in West Lethbridge, the city’s fastest-growing area for new retail, office, and residential development
  • As development continues to push west, the area is seeing steady increases in traffic, new businesses, and supporting amenities
  • The property also benefits from excellent visibility and access
  • East and westbound traffic traveling along Crowsnest Highway AB-3 passes directly by the site,

OVERVIEW

This six-unit commercial retail strip mall offers a solid, income-producing investment with a strong history of upkeep and reinvestment. Built in 2003 with significant upgrades completed in 2019, the property continues to show well, with Unit 890 fully renovated in 2024. Gabled architectural accents give the building an attractive, cohesive look and strong street-level presence. The property is well equipped for long-term performance, featuring nine rooftop HVAC units with supplemental electric heat at the unit entrances, 1200-amp, 3-phase electrical service and a security camera system. Parking is a major advantage, with an estimated 65 on-site stalls plus employee and shared overflow parking within the plaza, resulting in an excellent parking ratio of 6.39%. From an investment perspective, the property generates a current net operating income (NOI) of $165,600 at 76.61% occupancy, providing for a value-add opportunity for an additional $55,000 in NOI upon full occupancy. The rent roll features staggered lease expiries ranging from December 2026 through March 2036, providing both income stability and future leasing flexibility. Escalating rental rates are in place, with an average projected rent of $23.75 per square foot in 2026, positioning the asset for steady income growth over the holding period.

FOR SALE DETAILS

PRICE

$3,325,000 CAD

PRICE/SF

$327 CAD /SF

CAP RATE

4.98%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heritage Heights Plaza West

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

1.13 AC

LAND SF

49,223 SF

ZONING

C-N

APN/PARCEL ID

CUSTOM-2836777

ASK ABOUT THIS PROPERTY

Josh MartiAvison YoungMore Info
403-330-3338

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Josh MartiAvison YoungMore Info
403-330-3338

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