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. (id:55577)
Amperage | 200 Amp Service | Constructed Date | 1913 |
Construction Material | Wood Frame | Size Exterior | 2423 Sqft |
Size Interior | 2423 Sqft | Total Finished Area | 2423 Sqft |
Type | Commercial Mix | Utility Power | 200 Amp Service |
Utility Water | Municipal Water |
Acreage | No | Sewer | Municipal Sewage System |
Size Irregular | 359.00 | Size Total | 359 M2|0-4,050 Sqft |
Size Total Text | 359 M2|0-4,050 Sqft | Zoning Description | C-n1 |
Cable | Connected | Electricity | Connected |
Natural Gas | Connected |