601 7 Street E

This is a fantastic opportunity to acquire a rare, well maintained commercial property with over 9,000 square feet of space over three floors in a one-of-a-kind Drumheller location. What makes it rare? 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 large senior’s lodges. Most commercial locations in Drumheller are highway or downtown retail, limiting both their desirability and their accessibility, making this opportunity very uncommon.This location creates unparalleled direct access to the surrounding residential community and the adjacent seniors population - ideal for medical, daycare or service related businesses. This community appeal is evidenced by the long-term main floor tenant, an Alberta Government family and community services centre.The tenanted floor of the building has been fully renovated, however the seller has delayed renovating the other two floors to allow buyers to explore the other usage opportunities that the large 18,600 sq.ft (0.43 acre) lot provides. There's a TON of opportunity: - owner-specific renovations - tenant-specific renovation-to-suit requirements - conversion to up to 17 residential apartments / condos - residential conversion plus building expansion for a total of 29 units. So many options!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 beyond the existing commercial and expansion possibilities.Preliminary discussions with the town planning department has shown strong support for residential conversion options. Ample municipal services are immediately adjacent to the property to accommodate any expanded requirements for residential use or for building expansion. Access is simple with entrances and wide staircases at either end of the building plus a chair-lift at the main entrance allowing those with mobility limitations access between floors. The roof is relatively new, and the building structure is solid, using dimensional lumber interior framing. Maintenance check and necessary inspections are regularly completed. High ceilings allow for easy servicing and cable/plumbing runs - if or as desired. This is a low-maintenance, extremely affordable, and easy to manage asset with huge potential. With windows replaced roughly 10 years ago, efficient forced air heating systems and cooling systems, upgraded 400amp electrical, ample parking, key community location, and enviable flexibility for a wide range of current and future usage options - this is a remarkable investment you don’t want to miss! (id:53361)