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. 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.
Listed by MATT TEEL of ROYAL LEPAGE COMMUNITY REALTY

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Property Details of 524 3 Street SE

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 Based on information submitted to Pillar 9 as of June 11, 2026 7:11 AM UTC. All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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