SALE - 124-128 MAIN Street East

Here is a chance for an entrepreneur seeking the opportunity to open a restaurant/bar in the heart of the city. This ~10,000 sq ft building has been home to Moose's Roadhouse since 1999 and is ready for a new owner. The space currently offers capacity for 175 and comes complete with a large bar, public restrooms, separate rooms for entertaining large parties and a generous sized basement with storage, walk-in fridge and beer cooler. There is a kitchen that serviced a former catering business and additional seating (40) within the catering space which is currently not licensed. Sidewalk patio seating is also available. Upstairs you will find multiple office spaces, which could be converted to residential units. Funding is available through the city's Growth Community Improvement Plan to do so. There is currently a two bedroom apartment within the building. Unique opportunity to invest into the core of the city. This property is located within the boundaries of the Downtown Improvement Area known as Downtown North Bay and Waterfront. The building owner and any businesses that lease space within the boundaries are automatically part of the Downtown North Bay and Waterfront membership; a Business Improvement Area (BIA), and as such are subject to a special tax levy. Calculation of this levy is based on the proportionate value of each property’s commercial and/or industrial assessment. What is a BIA? A Business Improvement Area (BIA) is an association of commercial property owners and tenants within a defined area who work in partnership with the City to create thriving, competitive, and safe business areas that attract shoppers, diners, tourists, and new businesses. By working collectively as a BIA, local businesses have the organizational and funding capacity to be catalysts for civic improvement, enhancing the quality of life in their local neighbourhood and the City as a whole. What Can a BIA Do? Local businesses, working collectively as a BIA, become catalysts for civic improvements, ultimately enhancing the business climate and quality of life of the neighbourhood. As a legal organization mandated by provincial legislation, BIAs are able to develop a budget for improvements and, through the city, collect a levy from businesses in the area to raise the necessary funds. BIAs improve their local economies through activities such as: Street and sidewalk maintenance and capital improvements Promotion of the BIA as a business, employment, tourist or shopping area (business directories, festivals, advertising) Hosting neighbourhood festivals and events Safety, security and crime prevention initiatives Graffiti and poster removal services respecting building facades visible from the street Strategic plans for business recruitment, market studies and capital improvements Advocate on behalf of their membership as a unified voice How Does it Work? A BIA is run by a volunteer Board of Management elected from its members. The Board is nominated at an Annual General Meeting and, once approved by City Council, serves a four-year term concurrent with the term of Council. The Board works on behalf of its BIA and meets regularly to develop budgets, set priorities, implement capital improvements, plan festivals, and promote its business area. How is a BIA Funded? Once the BIA members approve the budget and City Council ratifies it, funds are raised through a levy on all commercial and industrial properties within the BIA’s boundary. Calculation of this levy is based on the proportionate value of each property’s commercial and/or industrial assessment. Once the City collects the levy, it returns the funds to the BIA to manage.