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128 2nd Avenue SE
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Beds
—
Baths
—
Sqft
1,000
Year
2017
Type
Business
On market
49d
An incredible opportunity to own a well-established Korean deep-fried chicken restaurant in the heart of Chinatown, just steps from the Bow River pathways and surrounded by downtown offices and vibrant hangout spots that attract steady foot traffic throughout the day and evening. This restaurant is located on a busy street and offers an efficient space with 23 permitted seats, a liquor license with two washrooms; making it ideal for both dine-in and takeout operations. Originally established in 2015 and successfully operated by the current owner since 2017, the business features designer's interior touches, and a well-equipped commercial kitchen, along with recent upgrades including a newer hot water heater tank and updated flooring. With ongoing revitalization efforts in Chinatown drawing renewed interest from both the city and the local community, this area is quickly gaining momentum as a popular destination with many trendy retailers and restaurants. This is a business asset sale, allowing you to continue the current concept or bring your own fresh vision to elevate it further. The replacement cost for a restaurant like this today is easily exceeding $200K, yet it is attractively priced at only $89,900, with a secure lease in place until 2030 under a supportive landlord. The lease includes base lease, operating costs, property tax, and GST. Showings are by appointment only, and please do not visit or approach staff without prior arrangement, as the business is currently in operation. Thank you. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
112.26%
Cap rate
27.32%
GRM
3.1
Break-even rent
$629
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 12, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
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