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23221 Township Road 394
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Rural Lacombe County · Agriculture · under $975,000 · 2+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Discover the perfect blend of privacy, versatility, and income-generating potential on this exceptional 80-acre agricultural property, located less than 10 minutes from Alix. Whether you're looking to operate a business, expand your agricultural operation, or enjoy peaceful country living, this property offers endless possibilities.The impressive 38' x 119' heated shop is thoughtfully equipped with office space, a bathroom, laundry hookups, and in-floor heat, making it ideal for a wide range of commercial, agricultural, or hobby uses. The oversize door allows mechanics, farm equipment, or truckers a useable and functional space to work.The 1,400 sq. ft. walkout home features 3 bedrooms, 2 bathrooms, multiple living areas, and ample storage. Live comfortably while operating your business, convert the home into dedicated office space, or generate additional income by renting it as an investment property.With 80 acres of AG-zoned land, you'll have the flexibility to tailor the property to your vision, whether that's farming, livestock, equestrian use, a home-based business, or future expansion. A rare opportunity to own a private, multi-functional property with exceptional potential. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Recreational, Games room | 15.00 Ft x 22.67 Ft | |
| Furnace | 7.67 Ft x 12.92 Ft | |
| Storage | 7.25 Ft x 12.92 Ft | |
| 3pc Bathroom | 6.42 Ft x 6.50 Ft | |
| Furnace | 6.67 Ft x 5.92 Ft | |
| Bedroom | 13.17 Ft x 9.92 Ft | |
| Bedroom | 13.08 Ft x 9.92 Ft | |
| Storage | 13.17 Ft x 6.25 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Family room | 15.58 Ft x 23.08 Ft | |
| Kitchen | 16.00 Ft x 14.42 Ft | |
| 4pc Bathroom | 7.75 Ft x 11.58 Ft | |
| Dining room | 14.00 Ft x 15.33 Ft | |
| Primary Bedroom | 15.33 Ft x 11.25 Ft | |
| Living room | 16.92 Ft x 15.33 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
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
-6.57%
Cap rate
3.55%
GRM
16.6
Break-even rent
$5,537
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 Jul 7, 2026.
Location of this listing. Distances are straight-line.
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