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Investment signal

$750,000

501 W 3RD AVENUE

Beds

—

Baths

—

Sqft

—

Year

1920

Location

See the block, not just the house.

Open the map for street view, commute checks, and nearby schools, groceries, mosques, parks, and transit stops.

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About this home

Prime commercial two-storey building offering approximately 6800 square feet, situated in the heart of downtown, across from City Hall. This versatile property has a rich history of multifunctional use, having previously accommodated a mix of retail and offices. This expansive building presents endless possibilities for redevelopment, with potential for up to five multifamily units, because of its C1 zoning designation. The generous layout is designed to meet various business and residential needs. The top floor has panoramic views of the city skyline, the picturesque harbour, and majestic mountains beyond. Well-maintained throughout the years, newer roof, new furnace, and foundation upgrades, to name a few. Seize this exceptional opportunity to unlock its full potential in a rapidly growing area, perfect for investors and visionary developers! (id:65958)

Subtype: Retail
Living area: 6,840 square feet
Lot size: 0.1 acres
Lot dimensions: 0.1
On market: Apr 14, 2026
Status changed: Apr 14, 2026
Photos: 38
MLS#: C8077851
Area: PRINCE_RUPERT

Features and systems

Security

Security system

Negative cash flow ~$1,480/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)2026 default 5.49% — adjust to your rate holdAmortization (years)

Cash on cash

-11.84%

Cap rate

3.52%

GRM

16.7

Break-even rent

$5,308

Financing

Down payment$150,000

Loan amount$600,000

Mortgage$3,681/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$344

Insurance$80

Maintenance$625

CapEx reserve$313

Vacancy loss$188

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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.

Lifestyle nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Prince Rupert. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

Mortgage estimate

Estimated $3,681/mo at 5.49% with 20% down, 25-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.