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Sylvan Lake · Vacant Land · under $4,000,000. Alerts only send when there are new or meaningfully updated matching homes.
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SYLVAN LAKE IS BOOMING! 4 ACRES of prime commercial land zoned CNS (Serviced to property line and ready for development). This exceptional commercial development site is strategically located on the corner of Highway 20 and 47th Avenue in Iron Gate-Sylvan Lake subdivision. Its the only undeveloped commercial corner in what has transitioned into the thriving Town of Sylvan Lake's prime shopping corridor. The residential component of the quarter section is advancing rapidly with many phases complete and homes occupied. A 52 unit townhome site is rapidly selling (nearly sold out). There is a 98 unit apartment that is almost fully occupied south of this 4 acre commercial parcel, as well as a 1.69 acre multi family site (beside it) with a pending plan for an 89 unit luxury adult apartment. A 55 lot phase that is serviced (south of the 8 acre site-nearly sold out) with a mix of townhomes and single family homes is nearly sold out to builders with much of it already under construction or homes sold an occupied. The east side of the property has a 42 townhome lots development which currently is being built on. A 26 lot single family home phase has just been serviced on the south side of the property with home construction to begin this year. The balance of the quarter consists of 88 acres of residential development land on the south side that will begin development in 2025 and will consist of approximately 500 new homes. Sylvan Lake is conveniently located approximately 1 hr 10 minutes in between Calgary and Edmonton, 15 minutes from Red Deer, voted one of the six top beach destinations in western Canada...it's become true 4 seasons destination with an incredible number of annual tourists. Want a larger parcel, there are two more attached CNS commercial site of 2.21 acres (MLS #2241252) and 1.79 acres (MLS#A2241255) which could be combined to make an 8 acre site if desired. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
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Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
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Suite legality / potential
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Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
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Insurance estimate
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Commute
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Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-6.20%
Cap rate
3.62%
GRM
16.7
Break-even rent
$22,525
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
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Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 15, 2026.
Location of this listing. Distances are straight-line.
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