Anders / Davenport Commercial Real Estate
Established south Red Deer communities anchored by neighbourhood strip retail along Anders Drive, with a mature multifamily rental market of older walk-up apartments and condos serving families and retail workers in Red Deer's south residential quadrant.
Anders / Davenport — Market Overview
Anders and Davenport are established south Red Deer residential communities providing a stable neighbourhood commercial and multifamily investment market. The commercial base is modest by design — Anders Drive strip plazas serve day-to-day convenience retail needs, with residents relying on nearby Bower Place, Taylor Drive and Gasoline Alley for major retail and services.
The multifamily market in Anders and Davenport is characterized by older walk-up apartment stock from the 1970s–1990s and a mix of condominium units held for rental. This produces two distinct investment profiles: value-add acquisitions of older walk-up buildings at 5.75–6.25% cap rates, and entry-level condo rental investments at 5.25–6.0%.
For investors, Anders and Davenport offer below-replacement-cost multifamily acquisitions in a stable south Red Deer rental market, neighbourhood strip retail at above-market cap rates relative to Calgary suburbs, and entry-level condo rental investment exposure to central Alberta.
Anders / Davenport Cap Rates & Market Data (2025)
| Asset Class | Location | Cap Rate | Notes |
|---|---|---|---|
| Retail — Neighbourhood Strip | Anders Drive | 6.25–7.0% | Convenience, service retail, local operators |
| Retail — Small Neighbourhood Commercial | Scattered nodes | 6.5–7.0% | Small format, below-replacement cost |
| Multifamily — Walk-Up (older) | Anders / Davenport | 5.75–6.25% | 1970s–1990s, value-add potential |
| Multifamily — Condo (rental) | South Red Deer | 5.25–6.0% | Individual or portfolio condo rental |
| Non-Residential Mill Rate | City of Red Deer | ~$20.50 | Per $1,000 assessed value, 2025 |
Why Investors Choose Anders / Davenport
Value-add multifamily pricing. Older walk-up apartment buildings in Anders and Davenport trade at below-replacement-cost prices with genuine value-add potential through renovation and modernization. Cap rates of 5.75–6.25% provide above-average yields relative to Calgary south suburb equivalents.
Stable residential rental demand. The south Red Deer rental market benefits from consistent demand from retail and service workers employed at Bower Place, Taylor Drive and Gasoline Alley, providing a large and diverse tenant base for south residential rental stock.
Entry-level commercial investment. Anders Drive neighbourhood strip retail offers entry-level commercial investment at price points and deal sizes accessible to smaller investors, with cap rates of 6.25–7.0% providing attractive yield relative to equivalent Calgary suburban strip retail.
No provincial income tax. Alberta's zero provincial income and sales tax enhances returns on all Anders and Davenport investments.
Anders / Davenport — Frequently Asked Questions
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Our Red Deer advisors cover Anders Drive neighbourhood retail and south Red Deer multifamily — value-add opportunities in established south communities.
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