Retail For Lease

  • Municipal Address: 5402 - 47 Street, Red Deer, AB
  • Site Size: 2.32 Acres
  • Zoning: CAP-TD - Capstone Taylor Drive Zone
  • Additional Rent: $15.00 PSF (estimated)

Carnival Theatre Transformation

A landmark in Red Deer's Capstone district is entering a new chapter with the redevelopment of the former Carnival Theatre into a new Shoppers Drug Mart, reinforcing the site's role as a vibrant community destination.

Complementing this national anchor is a 3,500 SF endcap opportunity, ideally suited for a restaurant, medical practice, or specialty retailer. The space benefits from strong daily traffic, excellent visibility, and close proximity to residential office, and civic amenities.

Siteplan

map

Area Redevelopment

254 Residential Units in Three Developments

254 Residential Units in Three Developments

Residential leasing in Capstone, Red Deer is experiencing a high demand and rapid growth, marked by the 100% occupancy of 62-uni "The Alex" development as of early 2026. This revitalization project is transforming the area into a vibrant, mixed-use, and walkable community, with further high-density multi-family projects underway and more scheduled to open in 2026.

Red Deer's only master planned, walkable river front community

  • Capstone will be a dynamic mixed-use, high density, urban neighbourhood in the heart of the city
  • 5,000 residents on full built out
  • 32 acres of green space in the community including natural areas, park spaces, and plazas

Location Map

Downloads

Brochure

Team

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