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Sherwood Park — Major Power Centre · Costco · Home Depot · Walmart

Emerald Hills Sherwood Park Commercial Real Estate

Sherwood Park's major newer retail power centre. Emerald Hills Centre anchored by Costco, Home Depot and Walmart, plus national QSR, medical office and strip retail serving east Strathcona County.

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5.0–5.75%Power Centre Cap Rate
5.5–6.25%Strip Retail Cap Rate
~$18.50Mill Rate (per $1,000)
~80,000City Population
Property Types
What's Available in Emerald Hills
Retail
Power centre · Anchor-adjacent
Costco · Home Depot · Walmart · Inline bays
View Retail Listings →
Medical Office
Medical · Dental · Allied
Emerald Hills professional node
View Office Listings →
Net Lease / QSR
National covenants
Drive-through · Pad sites
View Net Lease →
Retail
Cap rate 5.0–6.25%
Power centre · Strip · Pad
View Retail for Sale →
Emerald Hills Submarkets
Key Nodes in Emerald Hills Sherwood Park
Emerald Hills Centre
Major Power Centre · National Anchors
Retail
Sherwood Park's major power centre anchored by Costco, Home Depot and Walmart. Attracts regional shoppers from across Strathcona County and beyond. Strong foot traffic and stable national tenancy make this the most defensive retail investment in east Sherwood Park.
National AnchorsCostco / Home Depot / Walmart
RegionalDraw
QSR & Pad Sites
Drive-Through · National NNN
Retail
Freestanding QSR, coffee and service pad sites adjacent to Emerald Hills Centre. National drive-through covenants with NNN structures benefit from the anchor traffic generated by Costco, Home Depot and Walmart.
4.75–5.5%NNN Cap Rate
Anchor TrafficDrive-Through
Medical Office
Medical · Dental · Allied Health
Office
Medical and dental office buildings serving the residential growth areas of east Sherwood Park. Purpose-built strata and leased medical office. Growing healthcare tenant demand driven by east Strathcona County population growth.
HealthcareTenant Demand
StrataAvailable
Inline & Strip Retail
National Chains · Service Retail
Retail
Inline retail bays and strip centres adjacent to Emerald Hills Centre anchors. Benefiting from high-volume anchor traffic. Mix of national and regional tenants in personal services, financial, food and specialty retail.
5.5–6.25%Strip Retail Cap
AnchorTraffic Benefit
East Sherwood Park Growth Retail
New Residential · Neighbourhood Commercial
RetailOffice
Neighbourhood commercial development serving new residential growth in east Sherwood Park communities adjacent to the Emerald Hills area. Pad sites, strip retail and medical office opportunities as the residential base expands.
GrowthResidential Catchment
New BuildOpportunities
Service Commercial
Auto Services · Trades · Retail Mix
RetailIndustrial
Service commercial uses adjacent to the Emerald Hills retail node. Automotive service, trades supply, building materials and light industrial-compatible service retail supporting the growing east Sherwood Park residential and commercial base.
Service CommercialSupport Uses
EastSherwood Park
5.0–5.75%
Power Centre Cap Rate
5.5–6.25%
Strip Retail Cap
~$18.50
Mill Rate per $1,000
0%
Provincial Income Tax

Emerald Hills — Market Overview

Emerald Hills Centre is Sherwood Park's major newer retail power centre, anchored by the three dominant big-box tenants — Costco, Home Depot and Walmart — that collectively drive the highest sustained retail traffic volumes in the eastern Strathcona County market. The centre draws regional shoppers from Sherwood Park and surrounding Strathcona County communities.

Power centre cap rates of 5.0–5.75% for anchor-adjacent product reflect the defensive, necessity-driven income profile. Medical office demand in Emerald Hills is driven by the growing east Sherwood Park residential population and the corridor's strong daytime traffic.

Cap Rates & Market Data (2025)

Asset ClassSubmarketCap RateNotes
Retail — Power Centre / Anchor-AdjacentEmerald Hills Centre5.0–5.75%National anchor co-tenancy
Retail — Strip Centre / InlineEmerald Hills Adjacent5.5–6.25%National and regional tenants
Net Lease — QSR / Drive-ThroughEmerald Hills Pads4.75–5.5%National covenant, NNN structure
Medical OfficeEmerald Hills Nodes5.75–6.5%Strata and leased

Why Invest in Emerald Hills

Dominant anchor tenancy. Costco, Home Depot and Walmart collectively drive the highest sustained retail traffic in east Strathcona County, creating a defensive income environment for adjacent retail investment.

Regional draw. Emerald Hills Centre draws shoppers from across Strathcona County and from smaller communities east of Edmonton, extending the effective trade area well beyond Sherwood Park proper.

Strathcona County mill rate advantage. At approximately $18.50 per $1,000, Strathcona County's non-residential mill rate is among the lowest in the Edmonton CMA, improving net returns for commercial investors.

Emerald Hills — Frequently Asked Questions

What is Emerald Hills Centre?
Emerald Hills Centre is a major power centre in Sherwood Park anchored by Costco, Home Depot and Walmart, with adjacent QSR pads, medical office and strip retail serving east Strathcona County.
What are retail cap rates in Emerald Hills?
Power centre retail cap rates in Emerald Hills range from 5.0–5.75% for major anchor-adjacent product in 2025. Strip centre and inline retail trades at 5.5–6.25%.
Is there medical office in Emerald Hills?
Yes. Medical and dental office is active in Emerald Hills, supported by east Sherwood Park's residential growth and the corridor's high daytime traffic counts.
How do I invest in Emerald Hills retail?
Contact Canada's Home Commercial via our contact form, or call 780-545-5955.

Interested in Emerald Hills?

Our advisors cover Emerald Hills power centre retail, QSR net lease and medical office.

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