For Sale · Specialty

129 3 Avenue SW, High River

129 3 Avenue SW, High River, AB T1V1R3

$1.4M total

4,858 SF

Asset Class

Specialty

Size

4,858 SF

Building class

C

Zoning

DC2 — Site Specific

$ / SF

$278

Occupancy

86%

Year Built

1931

Lot Size

0.142332573896799 ac

About this property

A landmark opportunity in the heart of downtown High River! Offered at $1.35m the iconic Carlson’s building at 129 3 Avenue SW combines remarkable history, architectural character and exceptional mixed-use potential. Originally constructed by the federal government in 1931 as High River’s Post Office, this two-storey brick landmark later became the Town of High River municipal offices and was designated a Municipal Historic Resource in 2003. Today, the property is widely known as Carlson’s on Macleod, a distinctive gathering place that has hosted live music, weddings, private functions, community events and filming. Situated in the Central Business District (CBD), with convenient on-street parking plus private parking at the rear, the building offers approximately 4,858 sq. ft. above grade plus a 1,968 sq. ft. basement. The approximately 3,070 sq. ft. main level is built for impact, featuring a spectacular 1,547 sq. ft. open commercial area, bar, kitchen/service areas, two washrooms, storage and support spaces. Exposed brick, hardwood floors, stained glass, rich woodwork, high ceilings and a fireplace create an atmosphere that simply cannot be replicated in modern construction. A private courtyard-style patio of approximately 675 sq. ft., framed by mature vines and brickwork, extends the space outdoors. Upstairs, approximately 1,787 sq. ft. is beautifully configured as a residential-style 2-bedroom, 2-bath space with a full kitchen, dining area, impressive living room with fireplace, primary bedroom with 4-piece en-suite and extensive character throughout. A remarkable approximately 1,061 sq. ft. rooftop terrace provides exceptional private outdoor space. The 1,968 sq. ft. basement offers substantial additional storage, utility and flexible space with exciting potential for future development or expansion. The building’s heritage is evident throughout, from its brick and Tyndall stone exterior, the 1931 date stone and the historic “High River Town Office” lettering still visible in the basement. The Alberta Register of Historic Places recognizes the property for its importance to High River’s development and its landmark status within the community. This is far more than a commercial building—it is a recognizable piece of High River history with the space, character and CBD zoning to support an exciting next chapter. An extraordinary opportunity for an owner-operator, investor, hospitality concept, professional use or other creative mixed-use vision. Landmark properties of this caliber, character and history are a rare opportunity. After nearly a century at the heart of High River, 129 3 Avenue SW(Carlson's) is ready for its next owner, its next vision and its next chapter. Please check out the virtual tour link, for a detailed walkthrough of the property. All showings are available by appointment with advanced notice. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.35M
Down payment30% · $405K
Interest rate6.25%
Amortization25 years
Occupancy86%
Expense growth2.5%

Monthly debt service

$6K

Projected NOI

$75K

Annual cash flow

$527

Cash-on-cash

0.13%

DSCR

1.01

Going-in cap

5.58%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Prairie Coffee Roasters1,654 SF2034-05
Prairie Coffee Roasters2,519 SF2034-05

Area demographics

Trade area within 3 miles of the property.

Population

133,962

Households

52,922

Median income

$72,500

Median age

37.8

Daytime population

140,230

5-yr growth

6%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 129 3 Avenue SW, High River.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.