Gallery Sale

“Lifestyle” Business for Sale

$669,000

Bro Realty Limited

(Broken Spoke Fine Art Gallery)

Bro Realty Limited was established in 2014 with the purchase of the 208 Jasper Street property in Maple Creek, Saskatchewan.  The company has been used exclusively for the day-to-day operations of the business at this property.

 The past 10 years the company has transformed the 208 Jasper building into a successful Lifestyle Business model and opportunity for turn-key ownership along with immediate operation. 

The property, (one of the downtown core buildings), is located in the Historic Area of downtown Maple Creek, Saskatchewan, (20 minutes from Cypress Hills Provincial Park).  Cypress Hills receives over 325,000 visitors annually and is one of the most visited provincial park.  The tourism market has been a focus of the business model and seasonal closure is optional.

Property is ideal for Lifestyle Ownership in the growing community of Maple Creek

Property Details

Construction:                                   1915

Area of Land:                                 55’ x 130’                             7,150 sq.ft.

Area of Building:                            Main Floor                          4,000 sq.ft.

                                                      Second Floor                       4,000 sq.ft.

                                                      Basement                            4,000 sq.ft.

Site Coverage:                               56%

Back of Building:                           Fenced in Courtyard          1,400 sq.ft.

                                                      Raised Deck                         350 sq.ft.

                                                       Parking, (4 vehicles)

Zoning:                                              C1       (multi use commercial & residential)

 

Building Features

Structure:

  • Metal roof with GE Silicon 325 coating applied in 2023
  • Basement Brick & Field stone
  • Exterior walls, front & sides are double wall brick; back is wood frame construction
  • Exterior finish is combination Brick, Stucco on Brick and Metal lap in the rear

Main Floor Retail:

  • Open concept providing retail flexibility
  • Ceiling height 10’ 6” (Vintage Tin)
  • Hardwood flooring (original)
  • Exterior walls have been re-insulated, (6”) additional from the inside
  • Lighting updated to LED
  • Central Air Conditioning
  • Washroom
  • Wet Bar
  • Central Vacuum system

Second Level Suites:

  • Five Suites
    • all current long-term rentals. Suitable for Airbnb
  • Ceiling height is 9’ 10”
  • All suites have been updated
  • Individual Gas/Electric heaters and full baths in all suites, (most updated)
  • Window A/C units in each suite
  • Deck level outfitted with tables and BBQ for renters

Basement:

  • 50% finished retail area
  • Storage & Mechanical
  • Ceiling height is 7’

Mechanical:

  • 200 amp updated, separate meter for 2nd level
  • Forced air natural gas with air conditioning, (main floor)
  • All water changed to PEX piping

Courtyard:

  • Fenced in 1,400 sf exterior courtyard retail area with Deck
  • 350 Ft. Deck
  • Hot Tub
  • Pond

Other:

  • Building is classified Heritage by Town of Maple Creek and accordingly has benefited from various Saskatchewan Heritage grants over the years to assist with renovations. At such time as additional programs are established the building is well positioned
  • The building has an interesting history and also an interesting mystery in respect to some of the building’s past.
  • Main floor gallery area has been used to hold concerts and special events
  • Upscale Suites
  • Fire alarm system connects all three levels, (Basement, Main & 2nd level)
  • Dual zoning (commercial & residential)
  • Maintenance and Improvements on the building have been relatively easy in view of its basic layout and construction

Major Renovations:

  • Main floor retail area had all interior walls and various levels of flooring removed to provide open concept. Current wall outlay can be easily amended
  • Main floor has a vintage metal ceiling, (~4,000 sf), refinished
  • The buildings’ metal roof has been reinforced over the years with specialty product on seams & holes. A final coat of GE Silicon 325 was applied in the summer of 2023. The parapet cap has been waterproofed
  • The front brick façade has been repointed along with the back basement wall
  • Front 2nd level and transom windows uncovered and new installed
  • Exterior sides and back of building have been painted in past three years
  • Fenced in Courtyard with deck and back suite access is all new
  • Water supply has been changed to PEX piping and new Electric water heaters
  • Gas heaters in suites and for first floor are maintained, cleaned & replaced as needed
  • Gallery reception area outfitted to meet food license criteria, (currently used for smoothies with an indoor counter and an outdoor to go window)
  • All suites have been renovated
  • Lighting changed to LED everywhere possible
  • 2nd level hallway renovated, (vinyl flooring, drywall & stucco walls with a drop ceiling)

Business Features

The business model has focused around two lines:

1) Main Floor Commercial level features the Broken Spoke Fine Art Gallery and the Artist studio of Blaine Filthaut along with a Gift shop at the main entrance.  The Art gallery is also designed to host receptions and performances, (held on a regular basis in summer).

– Art Gallery features 9 select & established Western Canadian artists

– Artists are currently on a contractual consignment basis with Bro Realty Ltd and are not part of sale

– Gift Shop with unique and exclusive product lines

– Smoothie counter and serve out window

– Artist Studio

2) Second Level Suites have been renovated and entail 5 long term rentals providing good cash flow.  Suites could be used for Airbnb.  Second level access in the back also incorporates a 350 sq. ft. deck at mid-level.  The later along with the fenced in Courtyard area which includes a Hot Tub provides attractive features for upscale rentals.

Market:

  • Tourism to Cypress Hills has been on a steady increase for many years leading to Cypress Hills now considered as on of the top visited parks in Saskatchewan
  • The company is a member of Cypress Hills Grasslands Destination Area, (key marketing component)
  • New Business to the area over the past several years include
    • Cowtown Kids, (largest independent toy store in Sk.)
    • Grotto Gardens (Goat Yoga)
    • Wildflowers Acres (Country Gift Store)
    • The Bake Shop (Pot dispensary)
    • Rafter Brewing Company (brewing company)
    • New winery summer 2022 (brewing company)
    • Rebellion
    • The Surplus Store
    • The Blue Whale (ice-cream and candy shop)
    • Northern Lights Spa
    • Numerous new businesses in Cypress Hills

Evaluation

Sales price has been determined using a combination and consideration of the following considerations:

–           Building was professionally evaluated in August 2020

–           Financial Statements, (6 years)

–           Market Growth, (Tourism & Local area)

–           Goodwill

–           Established & continual Sask. Gov’t support marketing and financial

–           Established Supplier for Canada & U.S. including Brokerage accts and exclusive market items

–           Turnkey

“You can own your own business now”

This business was established for those seeking a Lifestyle Business and is presented on a turn-key basis.

Sale Price:                    $669,000

For additional information 

Blaine Filthaut

Artist/Owner 306-661-8425

Email: [email protected]

Website: www.brokenspokeartgallery.com


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