Location: St. Clair Township (Corunna)
The Golden Palace is a well-established (43 years) Chinese Restaurant serving Cantonese, Szechwan and other Asian foods offering a unique business opportunity. It has a strong customer base in a community with an average household income of $118,100 or median income of $98,000 (2021 census).The local community (14,659 residents) has a strong economic base of large industrial firms (Nova Chemicals, Suncor, Shell Canada, Enbridge, CF Industries, Dow Canada) and many support firms to industry and residents. The restaurant draws customers from the larger Lambton County and Wallaceburg trade areas with a population of 130,000.
Restaurant has a full kitchen including, four station Chinese range wok, gas grill, gas fryers, gas oven, steam table, rice cookers, walk in freezer, and other kitchen and refrigeration equipment. The dining area has 32 tables and chairs to accommodate approximately 130 patrons and restaurant is licensed for liquor service.
The property is owned by the restaurant owner. The building is 4,000 sq.ft. (estimated) and located on 0.71 acres with 186 feet of frontage.
The site is an excellent location at 376/380 Lyndoch Street (St. Clair Parkway) with a high volume of traffic. The property has excellent visibility from the street with a strong pylon sign. There are 50 on-site parking spaces. There is a small residential unit located on the second level with potential for residential rental or owners' residence.
Year Established: 1980
Real Estate Included: Yes
Type of Location: Detached building with half storey
Square Footage: 4,000 sq.ft
Reason For Sale: Retirement of owner
Retirement of owner
Training & Support: Seller will assist with training if required.
Seller will assist with training if required.
Competition: No other Chinese Restaurants in Corunna and only a few in Sarnia-Lambton.
No other Chinese Restaurants in Corunna and only a few in Sarnia-Lambton.
Potential Growth: Growing community with a strong economic base of large industrial firms and smaller independent operators.
Growing community with a strong economic base of large industrial firms and smaller independent operators.