St. Albert strip mall sold for $3.6M with an upside

One-acre property with adjacent gas station land lease has potential for increase in lease rates

for Western Investor
October 7, 2019

DD St Albert Fairview Boulevard strip mall Avison Young

A 1.04-acre strip mall in St. Alberta with an adjacent gas station land lease has sold for $3.6 million, and has the potential for an increase in retail lease rates, reports Avison Young's Edmonton office.


Property type: Retail strip mall; land lease

Location: Fairview Boulevard

City: St. Albert, Alberta

Zoning: C1 Commercial

Building size: 10,235 square feet

Land lease: Adjacent 18,009 square feet leased to Shell Oil gas station

Capitalization rate: 5.7%

List price: $4 million

Sale price: $3.62 million

Date of sale: August 30, 2019

Brokerage: Avison Young, Edmonton

Brokers: Reed Newnham, James Robertson

Reed is an associate with Avison Young who specializes in the investment division.

Avison Young Edmonton
10104 – 103 Ave. NW
Edmonton, AB T5J 0H8
Office: 780-429-7573

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