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Central Alberta's Commercial Hub — Between Calgary & Edmonton

Red Deer Commercial Real Estate

Industrial, office and retail for lease and sale across Red Deer's Gasoline Alley corridor, North Industrial, downtown and central Alberta distribution nodes. Alberta & Saskatchewan Commercial.

$14–18Industrial Net Rent /sf
6.5–7.5%Industrial Cap Rate
0%Provincial Income Tax
QEIIHighway Midpoint
Explore by Property Type
Industrial
$14–18/sf net
Warehouse · Oil Patch Service · Flex
Office
$14–20/sf gross
Downtown · Medical · Professional
Retail
$20–30/sf net
Gasoline Alley · Strip Mall · Pad Site
Flex Space
$12–16/sf net
Shop/Office Combo · Service Bay
Ground Lease
Long-term available
Commercial · Industrial · BTS
Medical Office
$18–24/sf gross
Clinic · Dental · Allied Health
Off Market
Multifamily
$3.5M–$4.0M
18-suite apartment · Purpose-built 1970s, major reno complete, sub-2% vacancy
📍 Established residential area — address undisclosed
Inquire Confidentially →
Off Market
Industrial Land
Offers $1.8M–$2.4M
4.2 acres · Zoned I-B, all services to lot line, clear title
📍 Industrial park — serviced — address undisclosed
Inquire Confidentially →
Off Market
Office
$1.4M–$1.8M
6,500 sf · Owner-occupied medical, vacant possession available Q3
📍 Downtown / civic core — address undisclosed
Inquire Confidentially →
Red Deer Submarkets
Gasoline Alley
Premier Retail Corridor
Highway 2 commercial strip at Red Deer's south boundary. One of Canada's highest retail sales per capita corridors. QSR pads, automotive, big box and national retailers. Constant traffic from both city residents and highway travellers.
$20–30/sfNet Rent
High TrafficAADT
RetailPrimary Use
North Red Deer Industrial
Primary Industrial Node
Red Deer's largest industrial area. Oil field service companies, agricultural equipment dealers and CN Rail-adjacent logistics users. Tightest vacancy in the city with the strongest net rents for industrial product.
$14–18/sfNet Rent
CN RailAdjacent
IndustrialPrimary Use
South Industrial
Secondary Industrial / Flex
South of downtown along Highway 2 south. Flex industrial, equipment rental and service-bay users. Larger lots at lower rents than North Industrial. Good access to QEII corridor southbound to Calgary.
$12–16/sfNet Rent
QEIIAccess
FlexPrimary Use
Downtown Red Deer
Office & Professional
Law firms, accountants, government offices and medical professionals anchor the downtown core. Ross Street pedestrian zone. Alberta Health Services regional administration drives consistent office demand.
$14–20/sfOffice Gross
Gov'tAnchor
OfficePrimary Use
Riverside Meadows
Medical & Suburban Commercial
Suburban medical office and retail corridor near Red Deer Regional Hospital. Dental, physiotherapy and allied health users cluster here. Strongest medical office rents in the city driven by hospital adjacency.
$18–24/sfMedical Gross
HospitalAdjacent
MedicalPrimary Use
Timberlands / Clearview
Growing Suburban Retail
Newer residential areas on Red Deer's northeast and southeast fringes. Strip malls, grocery-anchored centres and service retail serving growing suburban populations. Best new supply pipeline in the city.
$18–26/sfRetail Net
GrowthArea
RetailPrimary Use
Browse Every Red Deer Neighbourhood
Downtown Red Deer Gaetz Avenue Corridor Gasoline Alley North Red Deer / Clearview South Red Deer / Bower Red Deer Industrial Park Riverside Meadows Timberlands / NE Red Deer Anders / Davenport Aspen Ridge / Inglewood Bower Clearview Ridge Davenport Downtown Red Deer Gaetz Avenue South North Red Deer Industrial Pines Commercial Riverside Meadows Central Red Deer Commercial College Park Red Deer Deer Park Commercial Eastview Red Deer Garden Heights Commercial Lamont Red Deer Commercial Morrisroe Commercial Northlands Red Deer West Park Red Deer Woodland Red Deer Kentwood Commercial Michener Hill Commercial Riverside Red Deer Sunnybrook Red Deer Vanier Woods Commercial Westpark Commercial Barnett Commercial Deer Park East Eastview Commercial Garden Heights East Hull Commercial Normandeau Commercial Queens Business Park South Hill Red Deer Anders East Aspen Ridge East Bower East College Park East Rd Davenport East Deer Park North Downtown East Rd Gaetz North Gasoline Alley East Hull East Kentwood East Morrisroe East Northlands East Queens East Sunnybrook East Anders North Aspen Ridge North Barnett East Bower North Central Rd East Clearview East College Park North Rd Davenport North Deer Park South Eastview North Gaetz Avenue North Gasoline Alley North Hull North Kentwood North Lamont North Michener Hill East Northlands North Pines North Anders South Aspen Ridge South Barnett North Bower South Central Rd North Clearview North College Park South Rd Davenport South Deer Park West Eastview South Gaetz Avenue East Gasoline Alley South Hull South Kentwood South Northlands South Anders East Rd Barnett South Central Rd South Clearview South Eastview East Gaetz Avenue West Riverside East Rd Anders Area Aspen Ridge Area Bower Area Central Rd Area Clearview Area College Park Area Rd Davenport Area Deer Park Area Eastview Area Gaetz Avenue Area Gasoline Alley Area Hull Area Kentwood Area Northlands Area Riverside Area Rd
6.5–7.5%
Industrial Cap Rate
5.5–6.5%
Multifamily Cap Rate
0%
Provincial Income Tax
150km
QEII Midpoint Cal–Edm

Red Deer Commercial Real Estate — Market Data 2025

Red Deer is Alberta's third-largest city and the commercial anchor of central Alberta. Its position exactly between Calgary and Edmonton on the QEII Highway makes it a natural distribution midpoint, while Gasoline Alley drives retail sales that rival much larger Canadian markets.

SubmarketAsset ClassVacancyNet Rent (Lease)Cap Rate (Sale)
North IndustrialIndustrial5–8%$14–18/sf6.5–7.5%
South IndustrialFlex Industrial7–10%$12–16/sf7.0–8.0%
DowntownOffice12–18%$10–16/sf net7.5–9.0%
Riverside MeadowsMedical Office6–10%$18–24/sf gross6.5–7.5%
Gasoline AlleyRetail4–7%$20–30/sf net6.5–7.5%
City-WideMultifamily3–6%5.5–6.5%
Further Reading → Alberta Commercial Real Estate Cap Rates 2025 → Alberta Has No Provincial Income Tax — What It Means for Investors → Why Investors Are Moving to Alberta

Frequently Asked Questions — Red Deer

What are cap rates in Red Deer commercial real estate?
Red Deer 2025 cap rates: industrial 6.5–7.5%, retail strip mall 6.5–8.0%, multifamily 5.5–6.5%, net lease NNN 6.5–8.0%, office 7.5–9.0%. Cap rates exceed Calgary and Edmonton, offering higher yield for investors willing to accept a smaller market size.
What is Red Deer's role in Alberta's economy?
Red Deer is Alberta's third-largest city and the central Alberta commercial hub. It serves oil and gas service companies, agricultural equipment and processing, and acts as a QEII distribution midpoint between Calgary (150km south) and Edmonton (150km north). Gasoline Alley consistently ranks among Canada's top retail corridors by sales per capita.
What is the best industrial submarket in Red Deer?
North Red Deer Industrial is the primary node — CN Rail accessible, established with the tightest vacancy and highest net rents ($14–18/sf). South Industrial offers slightly lower rents ($12–16/sf) with larger available sites for users requiring more land area or QEII southbound access.
What is the Gasoline Alley commercial corridor?
Gasoline Alley is Red Deer's primary retail strip along Highway 2 at the south entrance to the city. It ranks among Canada's highest retail sales per square foot corridors, driven by both local residents and high volumes of QEII highway traffic. QSR, automotive, big box and national retailers concentrate here.
What is the mill rate in Red Deer?
Red Deer's 2025 non-residential mill rate is approximately $18.50 per $1,000 of assessed value. Combined with Alberta's 0% provincial income tax, effective business costs in Red Deer are competitive with Saskatchewan and lower than BC markets.
How do I find commercial space in Red Deer?
Contact Canada's Home Commercial via our contact form, or call 780-545-5955. We cover all Red Deer asset classes — industrial, office, retail, multifamily, land and net lease investment sales.

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