Silverado Commercial Overview
Silverado is a newer southeast Calgary community developed from the mid-2000s onward, situated in the far south of the city near the intersection of Macleod Trail SW and 210 Ave SE. The community is part of a network of southern SE Calgary neighbourhoods — alongside Legacy, Walden, and Shawnessy — that together form one of the city's fastest-growing residential corridors. Commercial development in Silverado is concentrated along Township Road 204 and the community's main commercial node near Silverado Range Close SE, with C-N1 and C-N2 zoning permitting a full suite of neighbourhood services.
Building stock in Silverado is modern, with most commercial buildings constructed post-2010 featuring energy-efficient mechanical systems, barrier-free design, and ample surface parking. Typical lease terms run five to ten years NNN, with landlords in newer buildings offering TI allowances of $40–$60 per sq ft for first-generation fits on five-year terms. Base retail rents in Silverado's main commercial nodes currently range from $24 to $36 NNN, reflecting the premium placed on newer construction relative to older SE Calgary centres.
Key Commercial Corridors
The primary commercial corridor in Silverado runs along Township Road 204 (also known as Silverado Plains Park SE in community addressing), with the main multi-tenant commercial building positioned to serve both Silverado residents and pass-through traffic from Macleod Trail SW. Macleod Trail itself — one of Calgary's highest-traffic arterials with daily vehicle counts exceeding 40,000 south of Shawnessy — provides significant drive-by exposure for pad site tenants and anchored centres accessed from the community's main entry points.
A secondary commercial presence is emerging along the community's internal ring road connections, with newer mixed-use lots designated for ground-floor retail with residential above. This configuration aligns with the City of Calgary's Main Streets policy framework and creates opportunities for service retail, café, and convenience uses serving walk-in and cyclist traffic from the adjacent residential areas of Silverado and Legacy.
Asset Classes
Neighbourhood Retail Strip
Modern inline units 800–3,000 sq ft. NNN leases at $24–$36/sq ft. Ideal for QSR, convenience, personal services, and medical tenants.
Medical & Professional Office
Ground and second-floor suites in newer buildings. Gross leases $22–$30/sq ft. High demand from dental, physiotherapy, and walk-in clinics.
Drive-Through Pad Sites
Freestanding pads on Macleod Trail and main entry arterials. Ground lease or sale. DC zoning typically required for drive-through operations.
Commercial Development Land
Designated commercial parcels within Silverado Area Structure Plan. Suitable for purpose-built retail or mixed-use residential/commercial development.
Investment Drivers
Silverado's investment case rests on the continued population growth of the southeast Calgary corridor. Legacy, Walden, Wolf Willow, and Silverado itself are among the fastest-growing communities in Calgary by new home starts, with the combined residential population expected to reach over 60,000 by the early 2030s. This demographic momentum creates sustained demand for neighbourhood-serving commercial space and puts upward pressure on rents as vacancy compresses. Investors benefit from newer building stock, longer initial lease terms, and tenants typically at or near the beginning of their lease cycle.
Cap rates for stabilized Silverado commercial assets have been observed in the 5.5%–6.5% range, with more recent transactions closer to the tighter end as institutional and private buyers compete for well-tenanted SE Calgary neighbourhood centres. The proximity to major employment nodes along Macleod Trail and the large residential trade area make Silverado an increasingly attractive alternative to pricier Shawnessy and Somerset commercial centres immediately to the north.
Development Pipeline
Several commercial parcels within the Silverado Area Structure Plan remain undeveloped as of 2025, presenting opportunities for build-to-suit development targeting grocery, pharmacy, or specialty food-anchored neighbourhood centres. Legacy's continued growth to the east is expected to drive additional demand for commercial space on the Silverado/Legacy boundary. The City of Calgary's Southeast Area Redevelopment Plan process will influence allowable densities and mixed-use potential for commercial parcels along Township Road 204 and the Macleod Trail frontage lots in the years ahead.