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Auburn Bay Commercial Real Estate

SE Calgary's premier lakeside community — strong neighbourhood retail, medical office demand, and Stoney Trail-driven accessibility attract regional investors.

~26,000
Community Population
5.25–6.00%
Retail Cap Rate Range
$38–$48
Avg Retail NNN ($/sf)
4.2%
Retail Vacancy Rate

Commercial Market Overview

Auburn Bay is one of southeast Calgary's largest and most affluent lake communities, with a catchment population exceeding 26,000 residents and median household incomes well above the Calgary average. The community's commercial node clusters along Auburn Bay Boulevard SE at Stoney Trail, benefiting from one of the city's busiest ring-road interchanges. Neighbourhood-serving retail, QSR pads, medical offices, and childcare facilities dominate the leasing mix, with consistent demand from both regional and national tenants.

Key Commercial Corridors

The primary commercial spine runs along Auburn Bay Boulevard SE near the Stoney Trail interchange. Auburn Bay Commons anchors the node with major grocery and big-box tenants. Secondary strip plazas line the 52 Street SE corridor, capturing internal community traffic. Stoney Trail's interchange ramps also support drive-through-format pad sites with high daily vehicle counts exceeding 80,000.

Industrial
Limited industrial within the community boundary; closest flex/light industrial is in Seton and South Trail Crossing. Small-bay service-commercial units in Seton available at $18–$22/sf NNN.
Retail
Neighbourhood strip plazas along Auburn Bay Blvd. Inline retail $38–$48/sf NNN; pad sites command premium pricing. Grocery-anchored centres deliver stable traffic. Vacancy under 5%.
Office
Medical and professional office condos and suites above retail. Strong dental, physiotherapy, and optometry demand. Lease rates $28–$36/sf gross. Strata office condos sell at $325–$420/sf.
Land
Remaining commercial land parcels in the Seton urban district immediately adjacent. Serviced commercial land trades at $2.8M–$4.5M per acre depending on pad location and access.

Investment Drivers

Auburn Bay's investment appeal is underpinned by its captive high-income consumer base, the South Health Campus hospital 2 km to the south (driving medical tenant demand), and Stoney Trail's ring-road connectivity linking the SE to the entire metro. The community's lake amenity sustains premium residential values, translating into strong retail spending power and low tenant turnover. Investors benefit from nationally-tenanted anchor covenants alongside locally-owned service retailers.

Development Pipeline

The adjacent Seton district continues to add commercial density, including mixed-use mid-rise projects incorporating ground-floor retail. A hotel and entertainment precinct near the South Health Campus is delivering incremental demand for restaurant and service retail. Remaining titled commercial parcels within Auburn Bay's own boundary are largely built out, making existing strata and leased product the primary investment vehicle for the near term.

Frequently Asked Questions

What commercial property types are available in Auburn Bay?

Auburn Bay's commercial inventory is led by neighbourhood retail strip plazas, medical and dental office condos, and small-bay flex units along Auburn Bay Boulevard and Stoney Trail SE. Drive-through QSR pads and daycare-anchored sites also trade regularly.

What are typical cap rates for Auburn Bay retail?

Neighbourhood retail strip plazas in Auburn Bay are trading in the 5.25–6.00% cap rate range as of mid-2025, reflecting the community's high household income and stable tenancy from national and regional tenants.

Is Auburn Bay commercial real estate a good investment?

Auburn Bay offers low vacancy, a high-income captive catchment, and proximity to the South Health Campus, making it one of Calgary SE's more defensive commercial investments. The lack of new supply within the community boundary supports rent stability.

How does Auburn Bay's commercial market compare to Mahogany?

Auburn Bay is more mature and fully built out, offering stable income-producing assets. Mahogany is newer and still adding commercial density, presenting more value-add and development upside but with slightly higher lease-up risk.

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