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1030 – Long Established Restaurant & Lounge – $650,000

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This is a long and well-established restaurant and lounge in a community of Calgary with 30,000 population. This is the only hospitality facility of its type in the area. As a result, the roots are very deep and they have many loyal clientele. Has lots of parking and comes with 8 VLTs. Ready for the energy and ideas of a new owner and it’s the first time offered for sale! Don’t miss it.

Please note this can be purchased as a share sale – asking $650,000 or for an asset sale – asking $750,000

Sales: Gross sales: $1.7M per year including VLT income

Size in sq. ft. 3,600 sq. ft.

No. of Seats: 160 in total (55% in bar and 45% in restaurant)

Number of parking stalls: Lots of parking

Financing: Treat as clear title

Style of cuisine: Casual dining; featuring pizza, pasta and steaks

Customer Demographics: Wide range of ages; locals; lots of regulars from surrounding neighborhoods

Type of service: Table

Hours of operation:
Monday to Thursday 11 am – midnight

Friday & Saturday 11 am – 1 am

Sundays 6 pm – 10 pm

Number of employees: 20 – mixed full-time and part-time

Leasing information:

Rate per sq. ft. $14,337 per month for rent, CAM and GST.
C.A.M. Included in above monthly amount
Lease Term: 4.5 years left             Option periods: One 5-year option
Deposit held by Lessor: To be verified


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