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4915 51 Avenue
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Beds
—
Baths
—
Sqft
4,400
Year
1968
Type
Other
On market
67d
Prime Downtown Investment Property – Stable Tenant in PlaceHere’s your chance to own a proven income-producing commercial property in the heart of downtown Whitecourt. This 4,400 sq.ft. retail building sits on a 5,625 sq.ft. lot and is home to one of Whitecourt’s most established and recognized businesses — Whitecourt Stationery. The store has served the community for decades and recently transitioned to new ownership, bringing fresh energy and ideas while retaining much of its experienced and long-term staff.A new 4-year lease is in place, providing dependable income for investors seeking a secure, low-maintenance property. The tenant continues to deliver strong, community-based business with steady traffic and a loyal customer base.The building itself has been well-maintained and upgraded, featuring a new furnace, new hot water tanks, and central air conditioning. Zoned C-5 Main Street Downtown, the location offers excellent visibility, walk-in traffic, and proximity to other established retail and service businesses.Whether you’re expanding your commercial portfolio or seeking a reliable investment with a quality tenant already in place, this property presents a turnkey opportunity in a proven downtown location.Building Size: 4,400 sq.ft.Lot Size: 5,625 sq.ft.Zoning: C-5 Main Street DowntownTenant: Whitecourt Stationery (new ownership, long-time staff) (id:65958)
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
-3.13%
Cap rate
4.24%
GRM
14.6
Break-even rent
$2,631
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 2, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Whitecourt. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.