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Take hold of this extremely rare opportunity! Magnolia Banquet Hall has been one of Calgary’s Leading wedding/event venues and is now for sale, along with its 1.79 acre plaza property. The first floor opens up to the newly renovated and updated Magnolia Banquet Hall, as well as a fully operating renowned Indian restaurant and sweet shop. The second floor comprises of The Jasmine Lounge, and 8 flex spaces which are 100% leased. Additional building features/amenities include: commercial - community 2 district zoning (C-C2f1), long-term mixed use tenants, 2 levels of underground parking, additional surface level parking, 4-storey elevator, fully installed security system, easy access to Calgary transit, and it is located in the heart of the North East. This building was built in 2008 and has over 24,000 square feet above grade, the building foundation is concrete slab with a metal frame superstructure, and includes glass pane doors and windows. Magnolia Banquet Hall and The Jasmine Lounge are exceptional businesses that have been successfully operating for over a decade. This venue is highly reputable in the community and has hosted many weddings, conferences, birthdays, concerts, etc. They are fully booked for 2022 and well on their way to being fully booked for 2023 as well, with forecasted continual growth. This is a once in a lifetime investment prospect, for all general inquires and/or property tours book today!

Listing IDA1244644
Price$10,900,000
StatusActive
Acres 1.790
CountyCalgary
SubdivisionWestwinds
Year Built2008
Property TypeCommercial
Property Sub TypeMixed Use

Contact - Listing ID A1244644

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Valerie Richards
Address: 1206 20 AVE SE
Calgary, AB T2G1M8
Canada
Phone: 4034715777

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