Market Overview
The Memorial Drive East commercial corridor runs along Memorial Drive NE east of Deerfoot Trail, centred around 36th Street NE. This stretch of inner-east Calgary is characterised by auto-oriented commercial uses, light industrial businesses, and mixed commercial buildings that occupy a transitional zone between the dense residential communities of Marlborough and Forest Lawn to the south and the industrial areas to the north. Industrial and commercial lease rates range from $12 to $20 per sq ft NNN.
Memorial Drive NE's eastern segment has historically served as Calgary's de facto auto-services corridor, with vehicle repair shops, auto parts dealers, heavy equipment rentals, and fuel distribution businesses occupying the older commercial-industrial buildings along the route. More recently, the corridor has attracted interest from investors and developers who see value-add and redevelopment potential in the affordable land basis, strong road access, and evolving east Calgary land use plans.
Key Commercial Corridors
Memorial Drive NE is a high-traffic arterial providing direct access to downtown Calgary to the west and to the Trans-Canada Highway and Stoney Trail ring road to the east. This east-west freeway function generates significant commuter and commercial vehicle traffic, supporting auto-oriented and service commercial businesses that benefit from drive-by visibility and direct highway connectivity.
36th Street NE is a key north-south connector linking Memorial Drive to 17th Avenue SE and the Marlborough commercial area, as well as to industrial zones along 32nd Avenue NE to the north. The combination of Memorial Drive and 36th Street NE creates a strong intersection node where commercial activity is concentrated and where development interest has been growing in recent years.
Asset Classes
Auto-Oriented Commercial
Vehicle repair, parts, detailing, and fuel; high visibility on Memorial Drive. Rates $12–$18 NNN.
Light Industrial / Flex
Older industrial bays for contractors, trades, and small manufacturers; affordable rents, good access.
Commercial-Industrial Hybrid
Showroom-and-warehouse configurations for building material, equipment rental, and supply businesses.
Value-Add Retail
Older strip commercial with repositioning potential as east Calgary land values increase.
Investment Drivers
Memorial Drive East attracts investors seeking affordable entry points in a well-connected inner-Calgary location. The corridor's older building stock, combined with an improving east Calgary real estate market, creates value-add opportunities for buyers who can identify properties where targeted capital expenditure will drive meaningful rent increases upon lease rollover.
The City of Calgary's planning focus on the east Calgary mainstreets and the broader Greenfield-to-Infill conversion policies creates a long-term redevelopment narrative for Memorial Drive East. Properties within proximity of the Marlborough CTrain station area fall within TOD policy zones that may support mixed-use intensification, providing a potential exit strategy for buyers who acquire at current commercial land values.
Development Pipeline
Development activity along Memorial Drive East is gradually increasing as east Calgary's land values rise and older auto-oriented uses are replaced by higher-value commercial and mixed-use occupants. Several industrial conversion projects are underway, repurposing older automotive and warehouse buildings for creative industries, fitness centres, and light manufacturing with retail components. The corridor remains in an early stage of commercial transition.