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:51532)
