This is a terrific opportunity to take over a leased property that is currently set up as a wine bar/restaurant in a popular area surrounded by similar type establishments. The current business is closing however new owners can take over the assets and leasehold improvements at a fraction of a recent appraisal, while bringing their own brand and food and beverage concept to life.
Located on the Calgary Red Mile (17th Avenue), this area is a busy street with bars and restaurants that cater to clientele from all over the city. The area features an eclectic mix of successful independent retailers as well as a high density residential neighborhood resulting in a diverse clientele. This area is also surrounded by other affluent uptown neighborhoods.
The main premise is 1,987 square feet and currently designed as an open kitchen concept. This space seats 40 with a retail component and features a 10-seat patio. An additional 24 seats could be incorporated by removing the retail section. There is an additional 882 square feet of usable basement space which includes a small production kitchen, (including a walk-in cooler), office space, ample storage and a conveyer belt to move product from the street level to the lower level. This space offers the unique advantage of two entrances, one on the street front (1006 17th Ave SW) and another to access parking on the adjacent street (1017 16th Ave SW).
This business is listed at $159,880 plus inventory. Currently monthly rent is $10,000 - the landlord is willing to negotiate a new lease with a qualified business. There is additional available basement space that could be leased from the landlord if required. Annual sales in this location have been as high as $2.5 million.
Potential buyers may contact Ken Wither at (587) 215-2245 for further general details about the opportunity.
Business owners or staff are not to be approached directly. To protect confidentiality, the attached picture is for marketing purposes only and not an actual depiction of the business for sale.
Ken Wither, Certified Business Intermediary,
Acuity Business Group
Commercial Real Estate Associate, Urban Realty
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