$3,325,000
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858 Heritage Boulevard W, Lethbridge, AB T1K 7V5

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This six-unit commercial retail strip mall offers a solid, income-producing investment with a strong history of upkeep and reinvestment. Built in 2003 with significant upgrades completed in 2019, the property continues to show well, with Unit 890 fully renovated in 2024. Gabled architectural accents give the building an attractive, cohesive look and strong street-level presence. The property is well equipped for long-term performance, featuring nine rooftop HVAC units with supplemental electric heat at the unit entrances, 1200-amp, 3-phase electrical service and a security camera system. Parking is a major advantage, with an estimated 65 on-site stalls plus employee and shared overflow parking within the plaza, resulting in an excellent parking ratio of 6.39%. From an investment perspective, the property generates a current net operating income (NOI) of $165, 600 at 76.61% occupancy, providing for a value-add opportunity for an additional $55, 000 in NOI upon full occupancy. The rent roll features staggered lease expiries ranging from December 2026 through March 2036, providing both income stability and future leasing flexibility. Escalating rental rates are in place, with an average projected rent of $23.75 per square foot in 2026, positioning the asset for steady income growth over the holding period. Heritage Heights Plaza West is located in West Lethbridge, the citys fastest-growing area for new retail, office, and residential development. Continued expansion along University Drive, including University of Lethbridge lands and the planned West Employment Centre adjacent to the site, is driving sustained population growth and increasing demand for commercial services. As development continues to push west, the area is seeing steady increases in traffic, new businesses, and supporting amenities that strengthen the overall trade area. The property also benefits from excellent visibility and access. East and westbound traffic traveling along Crowsnest Highway AB-3 passes directly by the site, providing consistent exposure to both local commuters and regional traffic. This combination of strong growth, high visibility, and convenient access positions the asset well for long term value retention and stable commercial performance.

Listing By: JOSH MARTI - AVISON YOUNG cnpilar Realty.com
  • MLS® A2308122
  • Date Listed05/05/2026
  • Days on Realty 33 Days
  • Bedrooms -
  • Bathrooms
  • Lot Size 1.12 acres (48,787 sq. ft)
  • Subdivision Heritage Heights
  • County Lethbridge
  • Year Built 2003

Exterior / Lot Features

  • Roof Asphalt
  • Lot Size Acres 1.12
  • Lot Size SQFT 48,787.00
  • Lot Features -

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for T1K 7V5

Discover key demographics, population statistics, and environmental insights for the Lethbridge, AB area.

Walkability in AB / T1K 7V5

Source: Walk Score

27/100

Car-Dependent

Walk Score ®

31/100

Some Transit

Transit Score ®

54/100

Bikable

Bike Score ®

Overview

Most errands require a car. A few nearby public transportation options. Some bike infrastructure.

Transit Summary

2 nearby routes: 2 bus, 0 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 21/100, Transit Score: 21/100, Bike Score: 34/100.

Points of Interest near 858 Heritage Boulevard W, Lethbridge, AB T1K 7V5

Frequently Asked Questions for 858 Heritage Boulevard W

Source: Realty.com

858 Heritage Boulevard W, Lethbridge, AB T1K 7V5 in Heritage Heights, Lethbridge, AB T1K 7V5 is a retail listed at $3,325,000. Highlights include built in 2003, 1.12 acre lot. Realty.ca has 7 photos, sales history, school insights, and mortgage tools for this listing.

Realty.com has 7 photos of 858 Heritage Boulevard W.

Our records indicate that 858 Heritage Boulevard W was built in 2003.

The full address for this home is 858 Heritage Boulevard W, Lethbridge, AB T1K 7V5.

858 Heritage Boulevard W has been listed on Realty.com since Tue May 05, 2026

Most errands require a car. A few nearby public transportation options. Some bike infrastructure.

The average walkability score in the surrounding area is Walk Score: 21/100, Transit Score: 21/100, Bike Score: 34/100.

Listing provided courtesy of: AVISON YOUNG (tel: 403-330-3338)
Listing agent: JOSH MARTI (tel: 403-795-8484)

This content last refreshed on 2026-06-07 02:30:42. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.