An iconic Calgary venue is looking for new tenants. Calgary's Ranchman’s Cookhouse & Dancehall Inc. is sadly no more. But the landlords of the location are keen on leasing it out to businesses that can come up with about $40,000 a month. 

Ranchman's was a beloved Calgary institution known for two-stepping, beer, and the mechanical bull. 

Rob Campbell, the realtor facilitating the leasing of the property, told Narcity that COVID-19 circumstances as well as Alberta's shockingly bad economy have led to the downfall of the bar. 

The listing for the building stated that the property would cost $18/per-square-unit to lease.

This means whoever wants to get into this business must come up with at least $40,000 a month for rent, said Campbell. 

It's up to the tenant whether they want to keep running it as a country bar or whether they want to transform it into a completely different venue. 

"They're welcome to do whatever they want with it," said Campbell. "There are no restrictions...though, I don't think we're going to let them run it as a strip club or anything."

Basically, the landlord is going to examine the business plans of whoever wants to lease the place and then make the call. 

So if you don't want to boot-scoot elsewhere in YYC, then you better draw up those plans really quickly. 

The landlord will also decide based on the amount of "business experience" the applicant has. The ideal application also needs to have a "certain bit of money in the bank." 

Campbell also wants potential tenants to know that "before you come to me, make sure you're not stepping into something that's too big for you."

So if you're a budding entrepreneur who hasn't quite figured out how to run a 17,000-square-foot venue, maybe this isn't the best investment for you. 

"What kills me is when people get into these things undercapitalized," he told us. "Make sure you plan it out." 

Campbell told us that his listing has been up for just over eight days but it's completely blown up.

"Tons of calls," he said. "As soon as I did the social media post, it went crazy." 

It's still early days at this point, said Campbell, so business-owners are just scoping out the listing and getting information about the property. Then they'll put together their business and marketing plans, he added. 

It's anyone's guess what the Ranchman's building is going to look like in the coming months and years.

Thankfully, there are tons of country-themed bars and diners all over the city and beyond, so you can get your fix of the Wild West either way. 

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