We use cookies for basic analytics + follow-up. Privacy
We remember this notice, run basic analytics, and use account activity like saved homes and listing views to provide real-estate follow-up. Privacy.
Reduced $76,000 (18%) from $425,000
5204 579 Highway W
Swipe through similar matches — tap the heart to save, or open one for the full read.
Beds
—
Baths
—
Sqft
1,976
Year
1950
Type
Retail
On market
67d
(Please note there are no financials) Gas tanks were inspected and approved for use on May 14/2026. Discover a rare opportunity to own a true landmark in the heart of Water Valley, Alberta. The iconic Water Valley General Store & Gas Station has long been a central hub for locals, visitors, and tourists exploring this beautiful and highly sought-after area. Rich in history and character, this property offers both a solid business foundation and exciting future potential.The main building features 1,976 sq.ft. of functional retail space designed to serve a variety of uses, from general store operations to specialty retail or hospitality concepts. In addition, a 1,123 sq.ft. auxiliary structure provides valuable extra space—ideal for storage, workshop use, or the opportunity to expand and diversify revenue streams. This flexibility makes the property well-suited for entrepreneurs looking to bring new ideas to a well-established location.Recent improvements to the main building include a new reverse osmosis water system, ensuring high-quality water service, a new air conditioning unit for improved comfort, and updated fixtures that enhance the overall look and functionality of the space. These upgrades contribute to a more efficient and inviting environment for both staff and customers.The Water Valley General Store is more than just a business—it is a recognized and cherished destination within the community. Its established presence and consistent traffic from locals, weekend visitors, and outdoor enthusiasts make it a strategic investment opportunity. Whether continuing its current use or reimagining the space, the location supports a wide range of commercial possibilities.Set against the backdrop of Alberta’s stunning countryside, Water Valley is known for its natural beauty, recreational opportunities, and growing popularity as a getaway destination. The property benefits from excellent exposur e and a steady flow of customers traveling through the area year-round.Buyers should be aware that the main building will require a new roof in the future, presenting an opportunity to further enhance and add value to the property. Additionally, a Phase 2 Environmental Site Assessment will be required for the southwest corner of the main building, where two 2,500-litre fuel tanks were previously removed, and the area was backfilled. This has been reflected in the offering and should be considered as part of any due diligence.This is a unique chance to acquire a historic, high-profile commercial property in one of Alberta’s most charming rural communities. With its combination of history, location, and potential, the Water Valley General Store & Gas Station is ready for its next chapter. (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
3.25%
Cap rate
5.51%
GRM
12.1
Break-even rent
$2,201
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 5, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Rural Mountain View County. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.