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202 2 Street W
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Rare Turnkey Restaurant Opportunity in Downtown Drumheller. Please do not disturb or approach the tenant directly. must make an appointment for showings or viewings.Rare opportunity for an owner-operator or investor to acquire a well-established restaurant property in the heart of downtown Drumheller. Located on the town’s main street, this freestanding commercial building has successfully operated as a Vietnamese restaurant for more than 15 years, serving a loyal local clientele while benefiting from the steady flow of visitors attracted to Drumheller’s reputation as the Dinosaur Capital of the World.The property features a fully equipped commercial kitchen, spacious dining area with seating for 50+ guests, and a fully finished basement level complete with a bar/banquet hall offering an additional 50+ seats. Multiple revenue opportunities exist through dine-in, takeout, catering, private events, and delivery services.Additional highlights include rear parking, potential for outdoor patio seating, and desirable C-1 Central Commercial zoning with restaurant use already established. The current tenant is willing to remain in place, providing immediate rental income for investors, or can vacate with 90 days’ notice, offering flexibility for owner-occupiers.Whether you’re looking to expand your restaurant portfolio, invest in a proven commercial asset, or launch your own hospitality venture, this turnkey property presents an exceptional opportunity in one of Alberta’s most recognized tourism destinations.Property Features:Freestanding commercial building on Main StreetEstablished restaurant location with 15+ years of operating historyFully equipped commercial kitchenMain floor dining room with 50+ seating capacityFinished basement bar/banquet hall with 50+ additional seatsRear parking accessOutdoor seating optionC-1 Central Commercial zoningStrong tourism-driven customer trafficFlexible occupancy: tenant may stay or vacate with 90 days’ noticeA rar e chance to own a proven restaurant property in a thriving tourism market. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-4.56%
Cap rate
3.95%
GRM
15.3
Break-even rent
$2,752
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 13, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.