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:51989)
Features of 1-3, 1416 2 Avenue S
- MLS® Number A2336371
- Price $1,799,800
- Square Footage: 9173 sqft
- Property Type: Commercial Mix
- Community Name: Upper Eastside
- Plan 0710302
Buildings
| Constructed Date | 1977 | Size Exterior | 9173 Sqft |
| Size Interior | 9173 Sqft | Total Finished Area | 9173 Sqft |
| Type | Commercial Mix |
Land
| Acreage | No | Size Total Text | Unknown |
| Zoning Description | C-g |
Agents and Offices
- AMIN IQBAL
- Office: Lethbridge Real Estate.com