780-832-5880

1046 8 Street SE
Calgary (A2178071)

$1,680,000
2,423 ft²
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Loan Term
Interest Rate
Loan Amount
Annual Tax
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* Amounts are estimates only. Final payment amounts may vary.

Description

UPDATED CASH FLOW: Please see Cash flow in pictures and Supplements. A rare opportunity indeed, this 66’ x 117’ property (7,722 sq. ft.) is in a prime position in the heart of one of Calgary’s most active inner-city districts. The sale price includes both 1046 and 1048 – 8th Street SE. PLEASE DO NOT BOTHER TENANTS OR PHYSICALLY ACCESS THE PROPERTY FOR TOURS OR SHOWINGS WITHOUT PERMISSION. SHOWNGS WILL BE PROVIDED AFTER A CONDITIONAL OFFER IS ACCEPTED. The property offers a mix of CN-1 Commercial Zoning and RCG multi residential zoning. Although the potential for a great mixed-use development is primarily the standout benefit to this property there is also the opportunity for a buyer/investor to simply purchase the properties and continue to operate as a commercial investment property. The main floor restaurant space is fully appointed with equipment for an easy transition to a new tenant but there’s also a great owner/user opportunity with the additional commercial and residential tenants supplementing income. Full equipment list provided on request. The 3 bedroom, 2 full bathroom house, located on the North portion of the property is currently furnished and rented to three University student who are paying full market rents and 2/3rds of the utility costs. The residential property was renovated in 2018 with new electrical and plumbing included. The commercial retail space above the restaurant is leased to a thriving neighborhood cannabis shop also at a full market rent. There is a newer transformer located on the property that should be sufficient to supply service to a new development. (To Be Verified). Ramsay is a hidden Gem in the city that offers both stable and secure investment and a quiet residential location that is rapidly transitioning along with the amazing developments that are just blocks away surrounding the new Flames arena/Entertainment District, BMO Centre, and Stampede Park. This property boasts one of the highest walk scores in the city at 98 out of 100. As a bonus, Red’s Diner, directly across the street, is a destination that draws 100,000 customers per year to this location. Come join the amazing neighborhood of Ramsay. You’ll be glad you did.

Property details

Basic Info

MLS® #
A2178071
Property Type:
Commercial
Subtype:
Mixed Use
Subdivision:
Ramsay
Price
$1,680,000
Sale/Lease:
For Sale
Size:
2,423 sq.ft.
Year Built:
1913 (112 years old)

Building Info

Structure Type:
Mixed Use
Garage:
No
Fence:
Basement:
No
Inclusions:
Please see supplements for full list including restaurant equipment and full furnishings for the residential property.

Lot / Land Info

Lot Size:
0.09 acres
Water:
Public
Sewer:
Public Sewer
Utilities:
Cable Internet Access, Cable Connected, Electricity Connected, Natural Gas Connected, Garbage Collection
Zoning:
C-N1

Materials & Systems

Exterior:
Wood Frame

Listing Info

Possession:
45 days / Neg
Days on Market:
52
Your Realtor
  • Cord Spero

    RE/MAX Grande Prairie
    780-832-5880

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