In 2022, Calgary’s restaurant real estate market showcased significant variation across different locations, with sale prices ranging from $100,000 to $430,000. Factors such as location, rental cost, square footage, and days on market (DOM) played substantial roles in determining restaurant sale outcomes.
1. Average Metrics
Average Size: ~1,404 sq.ft.
Average Sale Price: ~$226,645
Average Rent: ~$5,025/month
Average DOM: ~146 days
These figures suggest that mid-sized restaurants (1,000–1,500 sq.ft.) made up the majority of transactions, and most properties remained on the market for 3–6 months.
2. High-Performing Locations (by Sale Price)
The Shopping Mall sale stands out with a very high price per square foot and highest rent, reflecting its premium foot traffic and location value.
Properties near major malls like Chinook also fetched strong prices with quick turnovers.
3. Underperforming Locations
Despite some being centrally located, these businesses sold at a discount — often due to longer days on market, high operating costs, or limited size advantages.
4. Correlation Insights
Size vs. Price: Slightly negative (-0.24) — larger space didn't guarantee a higher sale price.
Rent vs. Price: Moderately positive (0.62) — restaurants with higher rent tended to sell for more, likely due to better locations and foot traffic.
Size vs. Rent: Essentially uncorrelated (-0.08), suggesting rents are more influenced by location than space.
5. Days on Market (DOM) Observations
Quickest Sale: Hillhurst – 17 days (despite low sale price)
Longest DOM: Marlborough Park – 377 days (lowest sale price)
DOMs were shortest for restaurants in high-demand areas or those priced aggressively for quick turnover.