INVESTMENT OPPORTUNITY - 312-316 7 STREET SOUTH - cloudfront.net
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INVESTMENT
OPPORTUNITY
312-316 7 STREET SOUTH
LETHBRIDGE, ALBERTA
Please Contact:
Jayden Shimoda,Associate Ashley Soames, Associate
403.942.0463 403.942.6692
jayden.shimoda@avisonyoung.com ashley.soames@avisonyoung.com
Property Information
Property Specifics
Property Address: 312 - 316 7 Street South, Lethbridge, AB
Legal Address: Plan: 4353S; Block: 33; Lot: 12-19
Area: 21,933 sf
Lot Size: 0.56 Acres
Zoning: Downtown Commercial (C-D)
Parking: Private Stalls in Rear & Metered Street Out Front
Signage: Building
Taxes: $55,376 (2018)
Sale Price: $2,800,000
Net Revenue
Current: $182,901 (2018)
Future: $200,000 (2020)
Tenants
Baby Laurel + Co
Mortar & Brick Arts and Events
Chantilly Bride
Good Times Comedy Club
Stone Fire Pizza Company
Avison Young Lethbridge (2016) Inc. I 312 - 316 7 Street South, Lethbridge, Alberta 2
Property Information
Square Footage
5,411 sf Building 312, Main Floor
5,648 sf Building 312, Basement
6,010 sf Building 316, Main Floor
4,864 sf Building 316, Basement
Improvements
• New HVAC Systems in Baby Laurel, Mortar and Brick, Good Times and
soon Stonefire Pizza
• New electrical panel in Good Times Comedy Club, and soon Stonefire
Pizza
• New flooring in Baby Laurel, Mortar and Brick, Chantilly Bride and soon
Stonefire Pizza
• New drywall, baseboards, painting in all units, and often new lighting
• New bathrooms in Mortar and Brick, and in basement off of lobby (314),
and soon Stonefire Pizza
• New flooring put in lobby, painted and new trim
• Outside of building painted, mesh metal signing backing put on
building, lighting improved
Avison Young Lethbridge (2016) Inc. I 312 - 316 7 Street South, Lethbridge, Alberta 3
Property Information
The Property
The subject property is part of the 7th Street retail corridor and presents an excellent
opportunity for cash flow to acquire a landmark building which requires minimal
maintenance and generates a good passive income.
The Promenade Building is one-storey sitting on 0.56 acres with large frontage along
7 Street South. The building contains 21,933 square feet of commercial space and is
fully leased.
Neighbouring tenants include: Doug’s Sports, Intrigue Lingerie Boutique, Pizza
Junction, CIBC Bank, Gentlemen Three Menswear, Hair on Fourth, 420 Clinic, The
Boarderline and Black & Walker.
This property offers a great investment opportunity.
City of Lethbridge Statistics
(2017)
95,124
P O P U L A T I O N
$
$ $91,879
AVERAGE HOUSEHOLD
INCOME
STAFFORD DRIVE 13,200 VPD
1 AVENUE SOUTH 5,500 VPD
Avison Young Lethbridge (2016) Inc. I 312 - 316 7 Street South, Lethbridge, Alberta 4
Property Photographs Avison Young Lethbridge (2016) Inc. I 312 - 316 7 Street South, Lethbridge, Alberta 5
43 St N (8,300 VPD)
LOCATION OVERVIEW
P D)
,100 V
Edmonton
DR (13
TO CALGARY 9 AVE N
ALBERTA
SCENIC
(213KM)
STAFFORD DR (13,200 VPD)
1
2
CENTRE VILLAGE MALL TO MEDICINE HAT
(170KM)
3 PARK PLACE MALL
5 AVE N (9,100 VPD)
Calgary
3
PD)
Crowsnest Trail /HIGHWAY 3 (27,030 V
Downtown Lethbridge
SUBJECT PROPERTY
213 km
Lethbridge LETHBRIDGE VIADUCT
GALT GARDENS
(HIGH LEVEL BRIDGE)
Canada-United States Border
43 St S (16,900 VPD)
6 AVE S (18,400 VPD)
USA CHINOOK REGIONAL
FORT WHOOP-UP
HOSPITAL Henderson Lake
D)
Mayo
0 VP
,80
r Mag
W (43 UNIVERSITY OF
CITY OF LETHBRIDGE DR
rath
-U P LETHBRIDGE College Centre MALL
2017 STATISTICS WH O OP
Dr (32
,600 V
POPULATION FAIRWAY PLAZA
95,124
PD)
5
PD)
100,888 SCENIC DRIVE (20,200VPD)
R W (24,400 V
4
DAYTIME POPULATION LETHBRIDGE COLLEGE SOUTH CENTRE COMMON
HOUSEHOLDS SUBJECT PROPERTY
UNIVERSITY D
39,246
$
$ $91,870 SUBJECT PROPERTY
AVG HOUSEHOLD INCOME SMART CENTRES
COULEE CREEK
N
MARKET OVERVIEW
98,198 LETHBRIDGE, ALBERTA
Lethbridge is the fourth-largest city in Alberta by population and third-largest by area.
CITY OF LETHBRIDGE POPULATION (2017) Located in Southern Alberta, Lethbridge is in the center of a trade area that serves over
340,000 people across parts of Alberta, British Columbia and Montana. Lethbridge is
117,000+
officially a census metropolitan area and currently the fifth-fastest growing city in the
country, growing at a rate of 10.8% between 2011 and 2016.
Located only one hour north of the Alberta-Montana border, Lethbridge is closer to
PRIMARY TRADE AREA POPULATION the U.S. market than any other city in Alberta. Lethbridge is also easily accessible to
major markets across Western Canada by road, rail and air.
341,000+
Initially built around agriculture and coal-mining, Lethbridge now has a diverse
range of key industries including wholesale and retail trade, construction and
manufacturing, transportation and financial services. Additionally, Lethbridge is
home to one university and two colleges supplying Lethbridge with a wealth of
TRADE AREA POPULATION employment in education and professional services.
10.8%
Lethbridge’s increasingly diversified economic base benefits from a healthy mix
of businesses that are anchored to the community. With no business, payroll, or
machinery tax, available serviced industrial land ready for construction and office
space at less than $16 per square foot, Lethbridge offers a low-cost operating
GROWTH FROM 2011 TO 2016 environment with demonstrated savings in areas such as taxation, land, construction
and transportation.
20% Industries operating in the Lethbridge area report that the lower cost of living allows
them to offer more flexible salaries and benefit rates. Employees are more likely to
stay in Lethbridge and contribute to its dynamic community because of the quality of
life that Lethbridge has to offer.
GROWTH OVER NEXT DECADE
In 2016, Lethbridge ranked fourth among Canada’s Best Places for Business by
SOURCES: City of Lethbridge, Economic Development Lethbridge, Explore Lethbridge & Canadian Business and PROFIT, as well as the second most Business Friendly.
About Lethbridge According to the results, Lethbridge “boasts an entrepreneurial, integrated science
and engineering environment and plenty of food expertise.”
Source: Economic Development Lethbridge
Photo: The Lethbridge Viaduct, commonly known as the High Level Bridge, is the largest railway structure in Canada and a historical landmark in Lethbridge, Alberta © 2018 Skytech Imaging.
Contact Information
Please Contact the associate for more information
or to schedule a tour. Please provide 24 hours notice
for all viewings.
Contact Us:
Jayden Shimoda
Associate
D 403.942.0463
E jayden.shimoda@avisonyoung.com
Ashley Soames
Associate
D 403.942.6692
E ashley.soames@avisonyoung.com
Avison Young Lethbridge (2016) Inc.,
Suite 300, 515 7 Street South,
Lethbridge, Alberta, Canada T1J 2G8
T 403.330.3338 F 403.320.5645
The information contained herein was obtained from sources deemed
reliable and is believed to be true; it has not been verified and as such,
cannot be warranted nor form any part of any future contract.
Avison Young Lethbridge (2016) Inc. I 312 - 316 7 Street South, Lethbridge, Alberta 8
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