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Shoppers Drug Mart 10015 107 St 15,586 SF 100% Leased Retail Building Westlock, AB T7P 2K7 $3,106,126 USD ($199.29 USD/SF) 7.25% Cap Rate

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Investment Highlights

Both tenants operate on NNN leases with limited landlord responsibilities, providing predictable and consistent cash flow.
Pharmacy and healthcare retail continues to perform through economic cycles, supported by non-discretionary consumer demand.
Shoppers Drug Mart has operated at the Subject Property since 2010 and extended its lease in 2025 through November 2030.

The Shoppers Drug Mart lease includes a fixed rental increase to $23.00 PSF in December 2028, providing in-place income upside without leasing risk.
Dynamite Vape & Smoke extended its 3,687 SF lease in June 2026, a full year ahead of expiry, securing the balance of the building through June 2032.

Executive Summary

Marcus & Millichap REIS Canada Inc. is pleased to present the opportunity to acquire 10015 107 Street, Westlock, Alberta (the "Subject Property"). The Subject Property is 100% leased and anchored by Shoppers Drug Mart, a subsidiary of Loblaw Companies Limited (TSX: L) and Canada's leading pharmacy retailer, which occupies over three-quarters of the leasable area. The balance of the building is leased to Dynamite Vape and Smoke on a recently renewed triple-net ("NNN") lease. Supported by secure lease commitments from both tenants, the Offering provides secure cash flow and longterm income stability backed by one of Canada's most recognized retail and healthcare brands.
The Subject Property features a 15,586 SF retail building located approximately 90 kilometres north of Edmonton. The property is 100% leased to two tenants, with Shoppers Drug Mart serving as the anchor and Dynamite Vape and Smoke occupying the balance of the premises. Positioned immediately west of Highway 44 within Westlock's established retail and service node, the property benefits from strong visibility, convenient access, and a strategic location serving the community and surrounding trade area.

08.24.2026 - Brochure. 10015 107 Street, Westlock, AB v2

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Storefront

Building Size

15,586 SF

Building Class

Year Built/Renovated

1965/2012

Price

$3,106,126 USD

Price Per SF

$199.29 USD

Cap Rate

7.25%

NOI

$225,194 USD

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.48

Lot Size

0.74 AC

Zoning

DTMU - Downtown Mixed Use

Signage

Dynamite Vape and Smoke
Retailer
99,999 SF
-
Jan 0000

Retailer
99,999 SF
-
Jan 0000

Shoppers Drug Mart was founded in 1962 by Toronto pharmacist Murray Koffler, who set out to build a national pharmacy organization while preserving local, personalized service. The company operates a broad network of stores across Canada and focuses on pharmacy care, health and wellness products, beauty, cosmetics, accessories, groceries, and convenience items. Shoppers Drug Mart offers clinical pharmacy services such as medication reviews, vaccinations, minor ailment assessments, travel consultations, and prescribing services. Its retail formats include the core Shoppers Drug Mart banner, along with pharmacy-focused concepts and related health and beauty businesses.