601 7 STREET E, DRUMHELLER, AB T0J0Y5

Property Description for 601 7 Street E

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! (id:38686)