15
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$575,000
Est. payment /mo
0.43 Acres Lot
New
601 7 ST East Drumheller, AB T0J0Y5
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Riverview Park
MLS® Listing ID A2247539
Year Built 1962
Lot Size 0.433 Acres
Acres 0.43
Lot Dimensions 125 x 150 +/-
Property Sub-Type Mixed Use
Property Description
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!
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!
Location
Province AB
County Drumheller
Zoning ND
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Inclusions Exterior storage shed, power chair lift system
Exterior
Roof Type Flat Torch Membrane
Lot Frontage 125.0
Total Parking Spaces 32
Building
Lot Description Back Lane, Corner Lot, Low Maintenance Landscape, See Remarks
Dwelling Type Low Rise (2-4 stories)
Foundation Poured Concrete
Structure Type Brick,Concrete,Mixed,Wood Frame
Others
Restrictions None Known
Tax ID 101709252
Listed by CIR Realty