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$ 768,000
Price Dropped by $20K
Calgary, AB
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Rent
MLS® Listing ID A2245755
Year Built 1980
Property Sub-Type Retail
Source Calgary
Property Description
Large Banquet Facility in Calgary. Accommodates 700 people with full kitchen and catering. Suitable for multi-days wedding parties, 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. 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 bookings, 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