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What is the total size of Franklin Place?

The property has a total size of 2.34 Acres.

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8720 Franklin Avenue, Fort McMurray, AB

For Sale Contact for pricing
Property Type Other
Date Updated May 21, 2026

Description

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.

Highlights

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.
Extensive Renovations
Future Residential Upside
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.
Strong Operating History
Superior Secondary Market Location
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.
The property is currently 100% occupied across residential and commercial units, providing strong in-place cash flow.