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Avison Young
Avison Young
Avison Young
Avison Young
Avison Young - Edmonton
Avison Young - Edmonton
Avison Young
Property Details
- Property Type Other
- Date Updated Jul 2, 2025
Franklin Place is a fully renovated 44-unit mixed-use property located in the heart of Fort McMurray, offering stable 100% occupancy across residential and commercial units. The asset features a diverse unit mix of bachelor, one and two bedroom units, and 16,837 SF of ground-floor retail/office space, delivering strong in-place cash flow from day one.
Recent top-to-bottom renovations, including modern interiors, new mechanicals, and refreshed common areas, provide investors with a turnkey opportunity and minimal near-term capital needs.
With residential rents currently averaging 20% below market, there is immediate upside through rental rate optimization as leases turn over. Fort McMurray’s increasing population, high household incomes, and tightening rental market further support long-term growth and value appreciation.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Current average in-place rents are approximately ~20% below market levels. The rent gap offers a clear avenue for revenue growth as leases turn over to market rates.
- Extensive Renovations
- Future Residential Upside
- Located in Fort McMurrayAlbertas energy capitalthe Property is positioned in a high-income, growth-oriented market. The citys rebounding population, rising rents, and strong employment base reinforce the markets strong multifamily market fundamentals.
- Strong Operating History
- Superior Secondary Market Location
- The Property has undergone a complete rebuild over the past five years, featuring modernized exteriors, new windows, refurbished balconies, updated roofing, and refreshed common areasdelivering a turnkey asset with minimal near-term capital needs.
- The property is currently 100% occupied across residential and commercial units, providing strong in-place cash flow.
Getting around
-
81/100
Walk Score ®
-
53/100
Bike Score ®
Location
- City Fort McMurray, AB
- Neighborhood Fort McMurray
Points of Interest
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Safeway
0.39 miles
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Real Canadian Gas Sation
0.52 miles
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Shell
0.63 miles
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Esso
0.71 miles
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Fas Gas
0.93 miles
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Petro-Canada
2.52 miles
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Interpretive Walking Trail Parking Lot
1.48 miles
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Fort McMurray Golf Club
3.30 miles
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Lot A
7.06 miles
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Lot C
7.07 miles
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Lot B
7.13 miles
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Clearwater Suite Hotel
0.61 miles
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Stonebridge Hotel
0.66 miles
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Ace Inn
0.74 miles
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Nomad Hotel and Suites
0.81 miles
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Bridgeport Inn
0.88 miles
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Podollan Inns
1.00 miles
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Podollan Rez-idence Fort McMurray
1.12 miles
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Franklin Suite Hotel
1.13 miles
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Radisson Hotel & Suites
2.49 miles
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Microtel Inn & Suites by Wyndham Fort McMurray
2.50 miles
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Sobeys
0.18 miles
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Walmart
0.23 miles
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Canadian Tire
0.31 miles
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Safeway
0.39 miles
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Save-On-Foods
0.44 miles
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Real Canadian Superstore
0.47 miles
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Peter Pond Mall
0.57 miles
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Save on Foods
2.44 miles
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Family Foods
3.11 miles
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Michelle's: Your Independent Grocer
4.38 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
