122 5 Street South
Lethbridge, AB
Mixed Use Investment Property
Offering Summary
- Opportunity 16,547 sf
- Lot Size 0.14 acres
- Zoning Downtown Commercial (C-D)
- Legal Address 4353S;7;12-13
- Sale Price $4,600,000
- Taxes 42,484.24 (2026)
- Cap Rate 7.42%
- NOI $372,000 (2026, projected)
- Financial Projected IRR greater than 14%, with 70% financing.
- Closing Negotiable
Property Description
The subject property is a substantial mixed‑use investment asset located in the heart of downtown Lethbridge, offering a combination of stable income and clear value‑add potential. Over the past three years, the building has benefited from significant renovations and mechanical upgrades, including the replacement of major equipment such as the boiler.
The property comprises 16,547 sf across three levels, along with an additional 6,155 sf basement. The main floor is primarily configured as commercial CRUs, while the second and third floors contain the residential component. In total, the building includes 27 residential units and seven retail units. Four residential suites and three commercial units are currently vacant, providing immediate upside through lease‑up.
Current commercial tenants include Hole Lotta Love Professional Piercing Studio, Coulee Cannabis, Art + Craft Pizza, and Beirut Shawarma & Kabab.
Additional information is available upon request, and a confidentiality agreement will be required. Interested parties are encouraged to contact Doug for further details.
Location
Positioned directly across from Galt Gardens and only steps from The NBHD block, 122 5 Street South occupies a highly visible and active location within downtown Lethbridge. The surrounding area is a vibrant mix of cultural, commercial, and residential activity, supported by steady pedestrian traffic and strong connectivity to transit and nearby amenities. Restaurants, cafés, boutique retailers, and community services are all within easy walking distance, contributing to a lively urban environment that benefits both residents and commercial tenants.
The neighbourhood continues to evolve through ongoing reinvestment, including the nearby NBHD Block redevelopment, which is helping to transform the district into a modern, energetic, and walkable urban centre. The property’s proximity to Galt Gardens provides a natural anchor for community events and daily foot traffic, while the surrounding businesses and residential density reinforce the area’s appeal. With its central location and adjacency to key community landmarks, the property is ideally situated to capture the continued momentum of downtown Lethbridge.
