Corner Of 47th Avenue Highway 20 Sylvan Lake, Alberta T4S 2J7

$6,600,000

7.98 ACRES of prime commercial land zoned CNS (Serviced to property line and ready for development). SYLVAN LAKE IS BOOMING! This exceptional commercial development site is strategically located on the corner of Highway 20 and 47th Avenue in Iron Gate-Sylvan Lake subdivision. Its the only undeveloped commercial corner in what has transitioned into the thriving Town of Sylvan Lake's prime shopping corridor. The other three corners at this intersection are the existing shopping centres of Ryder's Square, Hewlett Park Landing and Smart Centres (with Wal-Mart) Iron gate subdivision currently has a 4.77 acre commercial site with 7-11 with gas bar, Dominos pizza, Mobil-1 lube and more.. The residential component of the quarter section is advancing rapidly with many phases complete and homes occupied, a 52 unit townhome site is rapidly selling (Over 50% sold out). There is a 98 unit apartment site (sold with construction planned for summer 2024) on south perimeter of this 7.98 acre commercial parcel with construction expected to commence in the spring of 2024, as well as a 1.69 acre multi family site (beside it) expected to house an additional 60-80 apartment units. A 55 lot phase that is serviced (south of the 7.98 acre site-nearly sold out) with a mix of townhomes and single family homes is nearly sold out to builders with much of it already under construction or homes sold an occupied. The balance of the quarter consists of 88 acres of residential development land that will be developed into approximately 500 new homes. Sylvan Lake is conveniently located approximately 1 hr 10 minutes in between Calgary and Edmonton, 15 minutes from Red Deer, voted one of the six top beach destinations in western Canada...it's become true 4 seasons destination with an incredible number of annual tourists. (id:26242)

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https://www.realtor.ca/real-estate/26820015/corner-of-47th-avenue-highway-20-sylvan-lake-iron-gate