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524 3 Street SE

Medicine Hat T1A 0H3

MLS® Number:  A2300129

Back to SE Hill    Previous    Next

  • Home \
  • Medicine Hat \
  • SE Hill \
  • 524 3 Street SE

$ 425,000

0

BEDROOMS

0 + 0

BATHROOMS

0

SQUARE FEET

1945

YEAR BUILT

https://www.cirrealty.ca/reb/mhreb/9/A2300129_2.jpg

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MLS® Number
A2300129
PROPERTY TYPE
Mixed Use
LISTING DATE
April-10-2026

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.

COMMUNITY  SE Hill
PROPERTY TYPE  Mixed Use
BUILDING TYPE  Low Rise (2-4 stories)
STYLE  N/A
YEAR BUILT 1945
SQUARE FOOTAGE  0
BEDROOMS  0
BATHROOMS  0
BASEMENT 
AMENITIES 
APPLIANCES 
COOLING 
FIREPLACE  N/A
FLOORING 
HEATING 
LAUNDRY 
LOT FEATURES 
PARKING 
RESTRICTIONS  None Known
ROOF 
TITLE 
BROKER  ROYAL LEPAGE COMMUNITY REALTY

 

 

ROOMS DIMENSIONS (m) LEVEL
Picture for 339 North Railway Street SE Picture for 339 North Railway Street SE Picture for 339 North Railway Street SE Picture for 339 North Railway Street SE Picture for 339 North Railway Street SE

339 North Railway Street SE

Medicine Hat

0 sqft | 0 Beds | 0 + 0 Baths    

$375,000 View

Picture for 517A North Railway Street SE Picture for 517A North Railway Street SE Picture for 517A North Railway Street SE Picture for 517A North Railway Street SE Picture for 517A North Railway Street SE

517A North Railway Street SE

Medicine Hat

0 sqft | 0 Beds | 0 + 0 Baths    

$389,000 View

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Data supplied by CREB®,CARA®,CREA®,RASCA®,LDAR® or RAE MLS® System. CREB®,CARA®,CREA®,RASCA®,LDAR® or RAE is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®,CARA®,CREA®,RASCA®,LDAR® or RAE. Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.Copyright [2024] by the REALTORS® Association of Edmonton. All Rights Reserved.