Proudly Canadian-Owned · Commercial Real EstateResidentialCommercial
ContactOur Brokers
Home › Saskatchewan › Saskatoon › Caswell South

Caswell South Commercial Real Estate

South Caswell Hill commercial along 22nd Street near Avenue I in central Saskatoon — established older commercial strip with affordable net lease opportunities in the city's core.

Get Market ReportAll Saskatoon
$14–$22
Retail Net (PSF/yr)
<7%
Retail Vacancy
$10–$18
Office Net (PSF/yr)
6.5–7.5%
Cap Rate Range

Commercial Market Overview

Caswell South commercial encompasses the older commercial strip along 22nd Street West near Avenue I in the Caswell Hill neighbourhood of central Saskatoon. This established commercial corridor is one of Saskatoon's older commercial spines, serving the Caswell Hill, Pleasant Hill, and adjacent central Saskatoon residential communities with daily-needs retail, neighbourhood services, and small professional offices at competitive inner-city lease rates. The area's commercial character reflects the working-class and established residential communities it serves.

Retail net lease rates from $14 to $22 per square foot reflect the area's older commercial building stock and central Saskatoon location. The corridor benefits from consistent pedestrian and transit traffic along 22nd Street West, one of Saskatoon's major east-west commercial arteries. Value-add opportunities exist in older commercial buildings with below-market leases or requiring cosmetic improvements to attract upgraded tenants at market rates.

Key Commercial Corridors

The primary commercial concentration in Caswell South runs along 22nd Street West between Avenue H and Avenue L, with neighbourhood commercial nodes at key intersections serving the Caswell Hill and Pleasant Hill residential communities. Secondary commercial extends along Avenue I north and south of 22nd Street, connecting the Caswell Hill commercial area to the adjacent Riversdale and Mayfair commercial corridors.

The corridor's proximity to the Saskatoon downtown core — located less than two kilometres to the east along 22nd Street — provides access to the broader central Saskatoon commercial catchment while maintaining the neighbourhood commercial character of the Caswell Hill community. Several older commercial buildings offer the combination of affordable rents and central location that attract independent operators and community service organizations.

Retail
Neighbourhood convenience retail, food, personal care, and community services. Net rents $14–$22/sf. Central Saskatoon location. Affordable rents relative to downtown. Independent operators and community-oriented businesses. Value-add potential in older buildings.
Office
Small professional and community office in older commercial buildings. Community organizations, social services, small business offices. Net rents $10–$18/sf. Affordable central Saskatoon office for budget-conscious tenants.
Service Commercial
Personal services, laundry, automotive minor service, and neighbourhood commercial. Net rents $12–$18/sf. Consistent demand from Caswell Hill and Pleasant Hill residential communities.
Redevelopment
Older commercial properties on 22nd Street eligible for mixed-use residential above commercial redevelopment under Caswell Hill Area Plan. Land values $1.5–$3M/acre reflecting inner-city Saskatoon location and infill potential.

Investment Outlook

Caswell South commercial offers investors value-oriented inner-city Saskatoon commercial exposure at cap rates in the 6.5 to 7.5 percent range. The corridor's central location, affordable lease rates, and consistent neighbourhood demand provide stable income profiles for income-focused investors who accept older building stock and more modest commercial fundamentals.

Value-add opportunities are concentrated in older buildings where cosmetic improvements and lease renewals at market rates can improve net operating income. Infill redevelopment potential for mixed-use residential above commercial provides a longer-term upside for patient investors willing to navigate Saskatoon's development approval process.

Frequently Asked Questions — Caswell South

What is Caswell South commercial real estate in Saskatoon?

Caswell South commercial refers to the older commercial strip along 22nd Street West near Avenue I in Saskatoon's Caswell Hill neighbourhood. The corridor serves central Saskatoon residential communities with neighbourhood retail, personal services, and small office. Retail net lease rates range from $14 to $22 per square foot annually.

What types of businesses operate in Caswell South?

Caswell South hosts independent neighbourhood retailers, convenience and food stores, personal care services, community organizations, small professional offices, and social service providers. The corridor's affordable lease rates attract operators serving the working-class and established residential communities of Caswell Hill and Pleasant Hill, providing a stable base of daily-needs commercial tenants.

What are commercial lease rates along 22nd Street in Caswell Hill?

Retail net lease rates along 22nd Street West in Caswell South range from $14 to $22 per square foot annually. Small professional and community office leases at $10 to $18 per square foot net. Service commercial and personal care leases at $12 to $18 per square foot net. These rates are among the most affordable for inner-city commercial in Saskatoon, reflecting the area's older building stock and neighbourhood commercial positioning.

How does Caswell South commercial compare to downtown Saskatoon?

Caswell South commercial along 22nd Street West is located approximately two kilometres west of the Saskatoon downtown core, offering central city location at materially lower lease rates than downtown commercial. This positioning makes Caswell South attractive for operators who need a central Saskatoon address and local accessibility but cannot afford downtown office or retail rates. The corridor serves a neighbourhood commercial function distinct from the city-serving role of downtown commercial.

Is there redevelopment potential in Caswell Hill commercial?

Yes. Several older commercial properties along 22nd Street West in Caswell Hill are candidates for mixed-use infill redevelopment with residential above ground-floor commercial, consistent with the City of Saskatoon's Caswell Hill Area Plan and intensification policies for inner-city neighbourhoods. Land values in this corridor reflect modest infill potential, and patient investors who can navigate the development approval process may find attractive redevelopment opportunities in Saskatoon's inner-city commercial fabric.

What is the investment outlook for Caswell South commercial?

Caswell South commercial offers income-focused investors higher initial yields in the 6.5 to 7.5 percent cap rate range compared to newer suburban Saskatoon commercial. The corridor's central location, consistent neighbourhood demand, and affordable lease rates support stable occupancy. Value-add potential in older buildings provides modest upside through renovation and lease renewal at market rates. The main risk is the area's older building stock, which may require capital expenditure to maintain and attract tenants.

Your local Canada's Home Commercial team: Saskatoon →