Pleasantview Commercial Real Estate

Inner-south Edmonton retail and medical corridor at 51 Avenue & 99 Street — serving University of Alberta staff, Whyte Ave overflow, and established south-central neighbourhoods.

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~$28/sf

Avg Retail Net Lease Rate

5.8%

Retail Vacancy Rate

38,000+

Residents Within 3 km

6.2%

Avg Cap Rate (Strip Retail)

Commercial Market Overview

Pleasantview is a mature inner-south Edmonton community situated between Whyte Avenue and 51 Avenue, with 99 Street serving as its primary commercial spine. The area benefits from proximity to the University of Alberta, South Edmonton Hospital, and the broader Strathcona district, creating strong and stable demand for medical, professional, and neighbourhood retail uses. Commercial inventory is dominated by low-rise strip retail and converted residential-to-commercial buildings dating from the 1960s through 1980s, many of which present value-add opportunities through renovation or light redevelopment.

Key Commercial Corridors

The 51 Avenue corridor between 91 Street and 106 Street forms Pleasantview's main commercial street, with ground-floor retail and upper-level office common throughout. The 99 Street corridor connects the neighbourhood northward to Whyte Avenue and southward to the Southgate LRT station area, supporting service retail and medical clinics. Smaller nodes along 104 Street and 53 Avenue serve immediate neighbourhood needs including convenience, personal services, and food-and-beverage.

Industrial

Limited industrial in Pleasantview; light-service and storage uses occupy older buildings near 53 Ave. Most industrial demand redirects to Ellerslie South or the southeast industrial zones.

Retail

Strip retail along 51 Ave is well-leased to pharmacies, dental clinics, restaurants, and specialty food. Typical units range 800–2,400 sf. Vacancy has remained below 7% for the past three years.

Office

Medical and professional office is the dominant office type. Converted houses and purpose-built two-storey offices along 99 St serve physiotherapy, counselling, and accounting tenants. Rates: $18–$26/sf net.

Land

Infill and redevelopment sites along major corridors are limited but sought after. DC zoning allows mixed-use up to 4 storeys. Typical land pricing: $180–$260/sf buildable.

Investment Drivers

Pleasantview's proximity to the University of Alberta Hospital and the Southgate LRT station underpins consistent foot traffic and tenant demand. The neighbourhood's established residential base of professionals and university-affiliated households supports premium retail and dining uses. City of Edmonton infill policies along 99 Street and 51 Avenue are attracting mixed-use redevelopment interest, with several rezoning applications filed in recent years. Cap rates have compressed modestly as investors seek stable inner-city assets insulated from suburban softness.

Development Pipeline

Current development activity in Pleasantview is focused on mixed-use infill along the 99 Street and 51 Avenue corridors. Several three- and four-storey mixed-use projects with ground-floor retail and residential above are in various stages of planning. The City's Scona District redevelopment framework supports increased density at key nodes. Investors acquiring older strip retail properties are finding strong value-add returns through facade upgrades and tenant remixing toward medical and specialty food uses.

Frequently Asked Questions

What types of commercial properties are available in Pleasantview?

Pleasantview offers retail strip units along 51 Avenue, medical and professional office space, and mixed-use redevelopment sites. The area is particularly strong for healthcare-related tenancies given its proximity to South Edmonton Hospital and the University of Alberta.

What is the average commercial lease rate in Pleasantview?

Retail net lease rates in Pleasantview typically range from $22 to $32 per sq ft depending on unit size and frontage on 51 Avenue or 99 Street. Medical office space commands premiums of 10–15% above standard office rates in the area.

Is Pleasantview a good area for medical office investment?

Yes. Pleasantview is one of Edmonton's stronger inner-south medical office markets due to its location between the University of Alberta Hospital and Southgate LRT. Stable tenants, low turnover, and growing demand from healthcare practitioners make it attractive for investors seeking long-term leases.

What redevelopment potential exists in Pleasantview?

The City of Edmonton's infill guidelines support mixed-use redevelopment along 99 Street and 51 Avenue at densities up to 4 storeys. Older single-storey strip retail properties are prime candidates for assembly and redevelopment, particularly where DC zoning or corridor overlays apply.

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