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. 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 Current commercial tenants include Hole Lotta Love Professional Piercing Studio, Coulee Cannabis, Art + Craft Pizza, and Beirut Shawarma & Kabab.