713 9th Street

About this property

Fully Approved Mixed Use Development | 713 9th Street, Downtown Canmore. This is the most exciting development opportunity available in Canmore today. 713 9th Street comes with full Development Permit approval in place for a three storey mixed use building with retail on the main level, an 8 stall parkade, and 4 luxury townhomes approved for short term rentals. The design work, the approvals and the waiting are done. The next owner can move straight to building.The Townhomes: Each of the 4 townhomes offers 4 bedrooms, 3.5 bathrooms and approx. 1,870 to 2,100 sq.ft. over two levels, served by an elevator, and is crowned by its own private rooftop patio designed for outdoor kitchens and hot tubs with spectacular mountain views. Owning a townhome that can legally operate as a short term rental is very rare in Canmore. Owning one with a rooftop like this is rarer still, and it gives every unit substantial value on its own. For comparison, similarly zoned townhomes in Spring Creek are selling for over $3 million per unit.The Commercial: The main level offers 1,413 sq.ft. of commercial retail space fronting 9th Street, creating steady income from day one of operation and adding life to the street.The Location: The site looks onto Rotary Park and sits just one block from Main Street, in the Town Centre district. This is a street on the move. With several new developments underway right now, 9th Street is quickly becoming a vibrant extension of downtown's shopping and dining district, and owning a project of this calibre on it today puts you ahead of that growth.The Market: Canmore remains one of the most sought after mountain towns in Canada. Demand from buyers and visitors keeps climbing, while new supply is limited by geography and tight land use rules. Approved short term rental product in the core is scarce, and that scarcity is exactly what makes this site so valuable.Two Strong Paths:Build and hold the entire development for a substantial income scen ario, combining short term rental revenue from four premium townhomes with retail lease income below. Or build and sell the units individually for substantial profit in a market where comparable product is trading above $3 million.Highlights:Full DP approval in place (PL20230385)Lot 4, Block 64, Plan 1095F | Site area approx. 6,603 sq.ft.4 luxury townhomes, each 4 bed & 3.5 bath, approved for short term rentalPrivate rooftop patios w/ room for outdoor kitchens & hot tubs1,413 sq.ft. main level retail8 stall parkade & elevator to all upper unitsViews onto Rotary Park, 1 block from Main StreetOpportunities like this rarely come to market in downtown Canmore. A data room is available to qualified buyers, including the full drawing package and construction costing. Contact an agent to request access and discuss your plans for the site. (id:67740)

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