123 Downtown ST SW new Save Request In-Person Tour Request Virtual Tour
Calgary,AB T2P 1J9
$ 788000
- Bed
- Bath
- SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Rent
Subdivision Downtown Commercial Core
MLS Listing ID A2245755
Year Built 1980
Property Sub-Type Retail
Source Calgary
Property Description
One of the largest Asian banquet restaurant in Calgary, after 20 years in business under the same operator, the business owner decides to retire, with a yearly $1.5M+ of banquet reservation orders for weddings, birthday parties, political conventions, community association events, award ceremonies, Corporate Events, Church Function, Theme Parties, Benefits/Fundraisers, Private Parties, etc...this is a profitable business, not to mention the lunch and dinner retail, as well as the take out and delivery businesses. The restaurant has a capacity of 700 seating at one time, so for the larger events, this is like a monopoly. With the year ahead reservations, investor will recover the purchase price in 2 years time. 17,000sf, low lease rate of $16/sf. Suitable for operators with banquet experience . To set up such a 17,000 sf space will cost $1.2M to $1.5M, but now you can get this built out for half the price. The condition is good, no renovation required in the next few years.
Location
Province AB
County Calgary
Area Cal Zone Cc
Interior
Inclusions Furniture and utensil that can host a 700 person dinner banquet at one time, kitchen equipment and facilities to separate the space with dividers to host multiple functions/parties at the same time. Audio, Video equipment. Office equipment, video monitor system, Bar equipment, kitchen equipment.
Others
Restrictions None Known
Ownership Private