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$ 425,000
Est. payment /mo
Active
524 3 Street SE Medicine Hat, AB T1A0H3
6,300 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Approx. Sqft 6300
Square Footage 6,300 sqft
Price per Sqft $67
Subdivision Se Hill
MLS® Listing ID A2300129
Year Built 1945
Lot Size 3,250 Sqft
Acres 3250.0
Property Description
Exceptional downtown mixed-use building offering a rare combination of stable income, future upside, and owner-occupier flexibility. Spanning approximately 6,300 sq. ft., this property is well-positioned for investors seeking a turnkey asset with multiple revenue streams. The main floor consists of a 2,400 sq. ft. retail space currently leased, with the tenant entering the final year of their term—creating an opportunity for lease renewal or owner occupancy as early as March 2027. The 1,500 sq. ft. basement suite is fully separated and leased to a tech service company, with a long-term agreement in place until April 30, 2029, providing dependable income. The second level offers 2,400 sq. ft. and is configured into four residential suites. Two units are fully operational and currently generating short-term rental income through Airbnb, with all furnishings included in the sale for a seamless transition. The remaining two units are currently utilized as storage, presenting a value-add opportunity for buyers to upgrade to current code and significantly increase rental revenue. Additional highlights include three dedicated parking stalls at the rear of the property with alley access. Over the past five years, the building has seen important capital improvements including a rubber membrane roof, new wood deck, high-efficiency furnace and air conditioning unit, and HRV systems servicing both the main and basement levels. The upper residential suites are heated via a boiler system. This is a strong, income-producing asset with both immediate cash flow and clear potential for growth—ideal for investors or business owners looking to secure a strategic downtown location. (id:24570)
Location
Province AB
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Listed by ROYAL LEPAGE COMMUNITY REALTY