- For Sale Contact for pricing
- Property Type Other
- Property Size 101,930.4 SF
- Date Updated May 12, 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
- Extensive Renovations
- 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.
- Superior Secondary Market Location
- 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.
- Future Residential Upside
- 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.
- Strong Operating History
- The property is currently 100% occupied across residential and commercial units, providing strong in-place cash flow.
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Contacts
Location
Getting Around
-
Walk Score ®
81/100
Very Walkable
-
Bike Score ®
53/100
Bikeable
- City Fort McMurray, AB
- Neighborhood Fort McMurray
- Postal Code T9H 3K8
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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KFC
0.25 miles
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McDonald's
0.32 miles
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Fatburger
0.35 miles
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Subway
0.35 miles
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Mr. Mikes Steakhouse
0.36 miles
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Original Joe's Restaurant & bar
0.42 miles
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Edo Japan
0.56 miles
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Surekha's On The Snye
0.62 miles
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Montana's
0.64 miles
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Wendy's
0.67 miles
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Father J.A. Turcotte School
0.27 miles
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Dr. K.A. Clark School
0.41 miles
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Keyano College
0.82 miles
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Father Beauregard School
0.90 miles
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Good Shepard School
1.82 miles
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Beacon Hill School
1.92 miles
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Father Patrick Mercredi Community High School
2.69 miles
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Frank Spragins High School
2.92 miles
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Walter And Gladys Hill Public School
3.13 miles
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St.Gabriel School
3.21 miles
Frequently Asked Questions
The sale price for Franklin Place is available upon request. Contact the listing broker for more information.
Franklin Place totals 2 square feet.
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