725 9th, Canmore, AlbertaMLS®#: C4128471
- Property Value$1,299,000
- Property Address725 9th, Canmore, Alberta, T1W 2V7, Ca
- Year Built1985
- Available Building Area3,315 sq.ft.
- Lot Frontage49.98 ft
- Lot Size Area71,041.70 sq.ft.
Town Centre Canmore
725 9th, Canmore, Alberta, T1W 2V7, Ca
There is very good income potential with this two storey commercial building in a great location in the heart of Canmore on a 6,600 sqft (50 feet x132 feet) lot. The building is now used as a restaurant and a 3bed, 2bath suite upstairs. The restaurant area is 1,719 sqft; the apartment has ca. 1,575 sqft. Restaurant and suite are connected by a staircase, but there is also a direct entrance to the suite. Restaurant space and the apartment are presently leased to the same lessee with a 5 years fixed lease remaining on the lease, providing a steady income flow with a good cap rate. The real value however lies in the potential by adding to the existing building and doubling the commercial /residential space or by tearing down the building and redeveloping into a modern 2 or 3 storey commercial complex w. 10th street access. Build two luxury residential units on top and make money to develop extra commercial space on the first and second level! A rare bargain for this huge potential!
Listing Provided By
RE/MAX ALPINE REALTY
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