123 Downtown Street SW new Save Request In-Person Tour Request Virtual Tour
Calgary,AB T2P1J9
$ 788000
- Bed
- Bath
17000 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Rent
Square Footage 17,000 sqft
Subdivision Downtown Commercial Core
MLS Listing ID A2245755
Year Built 1980
Source Calgary Real Estate Board
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. (id:24570)
Location
Province AB
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Private Pool No
Others
Acceptable Financing Yearly
Listing Terms Yearly