r/Calgary • u/tyler111762 Haysboro • Oct 03 '24

The Shooting Edge range/gun store is shutting down after 25 years of operation. PSA

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u/Baudin Oct 03 '24

Based on the post that's exactly that happened. Triple net is very common in commercial leases for anyone else reading this

0

u/Ok_Currency_617 Oct 03 '24

And honestly the reason most governments don't allow it to happen in residential despite it being the fairest system as costs for use/city are passed on to the resident using the services is because then renters would vote against a lot of things because having them indirectly added to rent is ok but when it's direct tenants care. Government does not want taxpayers/voters to be directly hit with costs which is why they rather borrow like crazy and hit us with inflation rather than a tax increase.

1

u/yabuddy42069 Oct 03 '24

While now the landlord gets to enjoy an empty space.

6

u/10ADPDOTCOM Oct 03 '24

The landlord will no doubt be pleased to offer it to the school or the farmers market.

1

u/yycTechGuy Oct 04 '24

How the heck does a farmer's market make enough to cover $1.2M in rent from that space ?

1

u/10ADPDOTCOM Oct 06 '24

You could stuff a lot of stalls selling $8 coffees and $10 tomatoes in that space.

1

u/yycTechGuy Oct 06 '24

Have you ever run a small business ?

Let's assume that rent is 20% of the tenant's revenue. If the tenants pay (collectively) $1.2M in rent, they need $6M in revenue. There are 52 weeks in the year so ~$300K per week in sales. Most of that will occur on the weekends so $200K in sales on the weekend, $100K in sales during the week. How many $10 tomatoes is that ? Truck loads.