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2929 50 Av
Red Deer, AB T4R 1H1
Land For Sale
·
2.99 AC
INVESTMENT HIGHLIGHTS
- High Exposure Location
- Close Proximity to Major Retailers
- Exposed to 20,000+ vehicles daily
EXECUTIVE SUMMARY
Black Knight Inn was a former 98 room landmark hotel in Red Deer but given the sharp downturn in the hospitality industry and the age and condition of the buildings, the new owners have made the difficult decision to redevelop the property with the removal of the hotel to be completed in early to mid 2022.
The site is a 2.63 acre corner lot situated on a major arterial road in the heart of Red Deer's south retail node. It's located at the controlled intersection of 30th Street and Gaetz Avenue and is just south of one of Red Deer's busiest intersections (32nd Street). Minutes away from all major retailers including Canadian Tire, Walmart, Home Depot, Lowes, and Hudson's Bay, this site can be redeveloped into a variety of uses including anchor box, general retail, hotel, mixed-use, medical, and multi-family.
The north 3 acres of the property has been sold.
The site is a 2.63 acre corner lot situated on a major arterial road in the heart of Red Deer's south retail node. It's located at the controlled intersection of 30th Street and Gaetz Avenue and is just south of one of Red Deer's busiest intersections (32nd Street). Minutes away from all major retailers including Canadian Tire, Walmart, Home Depot, Lowes, and Hudson's Bay, this site can be redeveloped into a variety of uses including anchor box, general retail, hotel, mixed-use, medical, and multi-family.
The north 3 acres of the property has been sold.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Hold For Development |
| No. Lots | 2 | Total Lot Size | 2.99 AC |
| Property Type | Land | ||
| Zoning | C4 - Major Arterial Commercial | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 2 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Hold For Development |
| Total Lot Size | 2.99 AC |
| Zoning | C4 - Major Arterial Commercial |
2 LOTS AVAILABLE
Lot
| Price | $3,402,000 CAD | Lot Size | 1.62 AC |
| Price Per AC | $2,100,000.00 CAD |
| Price | $3,402,000 CAD |
| Price Per AC | $2,100,000.00 CAD |
| Lot Size | 1.62 AC |
Lot
| Price | $2,121,000 CAD | Lot Size | 1.01 AC |
| Price Per AC | $2,100,000.00 CAD |
| Price | $2,121,000 CAD |
| Price Per AC | $2,100,000.00 CAD |
| Lot Size | 1.01 AC |
DESCRIPTION
Positioned at one of Red Deer’s busiest intersections—30th Street and Gaetz Avenue—this 2.63-acre corner lot offers unmatched exposure in the city’s thriving south retail corridor. Formerly home to the Black Knight Inn, the site is now cleared and primed for redevelopment. Zoned C4 – Major Arterial Commercial, it supports a wide range of uses including retail, hotel, medical, mixed-use, or multi-family development. With over 20,000 vehicles passing daily and proximity to major retailers like Walmart, Canadian Tire, and Home Depot, this high-traffic location presents a rare opportunity for investors and developers seeking visibility, access, and long-term growth potential.
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