Rare redevelopment opportunity in the core of Canmore at 1405 & 1409 Mountain Avenue. This exceptional offering spans over 15,700 sqft across three parcels in the Teepee Town Medium Density district, allowing for a range of development options including townhomes, stacked townhomes, or low-rise apartment buildings. Ideally located within walking distance to Main Street, commercial amenities, trail networks, and the Canmore Hospital, this site sits in an area undergoing significant redevelopment and long-term growth.
Two existing homes provide strong holding income, currently generating over $12,000 per month in long-term rental revenue, offering stability while advancing plans. The current owner has completed building drawings and marketing materials for a stacked townhouse development, providing a valuable head start for future redevelopment. With the Town of Canmore advancing Land Use Bylaw updates anticipated in 2027, this is a strategic opportunity to secure a large, centrally located parcel with both immediate income and long-term development upside.
Address
1405 & 1409 Mountain Avenue
List Price
$3,700,000
Property Type
Commercial
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Canmore
Sub-Area
Teepee Town
Lot Size
15784 Sq. Ft.
MLS® Number
A2295117
Listing Brokerage
Sotheby's International Realty Canada
Postal Code
T1W 1M3
Zoning
TPT-CR - Medium Density