Calgary, AB T2P 1J9,123 Downtown ST SW
Calgary, AB T2P 1J9,123 Downtown ST SW
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Wed
6
Aug
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7
Aug
Fri
8
Aug
$ 788,000

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$ 788,000
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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

Listed by First Place Realty

GET MORE INFORMATION

agent

Justin Newman

License ID: 00540392

+1(403) 668-1272

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REVIEWS

Justin was prompt with his responses and clear with expectation for the process. It was a smooth and enjoyable selling experience with him. I have worked with couple other realtors before and I can say with confident Justin would be who I will use for any of my future transaction.

Gyann Yiu