3477 Lakeshore Road, Kelowna North

$699,000

ASKING
PRICE

MLS #: 10348846

IDX Listing

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PRICING BREAKDOWN

Asking Price
$699,000
Approx. Inventory Value
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FF&E Value
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10348846
MLS®

258
Interior m²

Hospitality
Property Type

2781
Interior SQFT

BASIC INFORMATION

Key Points:

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BUSINESS DESCRIPTION

3477 Lakeshore Road

Opportunity to acquire the assets of a prominent, downtown Kelowna restaurant with high exposure and foot traffic. The restaurant currently operates as a fast-casual Indian dining restaurant and was outfitted with new equipment and significant leasehold improvements. With a branding change (required in the sale), another restaurateur/entrepreneur can easily continue operations as a profitable Indian restaurant with significant takeout traffic and goodwill associated with the location. However, in this location, a buyer may wish to change uses to other restaurant uses that would align with such a location and high-end buildout (high-end restaurant, cocktail bar, etc). The equipment is largely transferable to other restaurants, except for specialized equipment like the Tandoor oven. The kitchen also includes a walk-in fridge area and a 6x6' walk-in freezer. The dining space itself is exceptional, with soaring ceilings and rolling doors that open up to the outside for the summer months, blending into the large outdoor patio space. However, the cosmetics are as high-quality as the mechanical systems, with additions such as a high-quality ventilation system to ensure no odors. There is a long-term lease in place to ensure continuity for a new owner. The assets are being sold significantly under cost, even when attributing appropriate depreciation. Branding, website, etc., are not included in the sale. Please inquire for an NDA and further information about this asset sale. (id:6769)