Property Details

601 7 Street E
Drumheller (A2247539)

$575,000
9,000 ft²
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Loan Term
Interest Rate
Loan Amount
Annual Tax
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* Amounts are estimates only. Final payment amounts may vary.

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!

Property details

Basic Info

MLS® #
A2247539
Property Type:
Commercial
Subtype:
Mixed Use
Subdivision:
Riverview Park
Price
$575,000
Sale/Lease:
For Sale
Size:
9,000 sq.ft.
Year Built:
1962 (63 years old)

Building Info

Structure Type:
Low Rise (2-4 stories)
Garage:
No
Fence:
Basement:
No
Inclusions:
Exterior storage shed, power chair lift system

Lot / Land Info

Lot Size:
0.43 acres
Lot Dimensions:
125 x 150 +/-
Lot Features:
Back Lane, Corner Lot, Low Maintenance Landscape, See Remarks
Zoning:
ND

Materials & Systems

Roof:
Flat Torch Membrane
Exterior:
Brick,Concrete,Mixed,Wood Frame
Foundation:
Poured Concrete
Heating:
Forced Air, Natural Gas
Cooling:
Central Air

Listing Info

Possession:
Negotiable
Your Agent
  • Daniel Cram

    Sutton Group Grande Prairie
    780-814-9482

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