Premier Smith Mountain Lake Waterfront Restaurant for Sale

Asking Price$2,550,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross Revenue$1,400,000

InventoryNot Disclosed

FF&E$500,000
Included in asking price
Real EstateNot Disclosed

Bar
20 boat slips
Waterfront
outdoor dinning
Indoor dinning with a view
Bar
Bar
20 boat slips
Save1/6

Premier Smith Mountain Lake Waterfront Restaurant for Sale


Asking Price$2,550,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross Revenue$1,400,000

InventoryNot Disclosed

FF&E$500,000
Included in asking price
Real EstateNot Disclosed

Business Description
Here is the opportunity of a lifetime...your chance to own a one of a kind Smith Mountain Lake waterfront restaurant. Nestled in a quiet cove with 20 boat slips for docking, it is a popular destination for boaters and motorists alike. Tourists staying at the neighboring hotel or year-round campground, frequent this restaurant for meals, beverages and entertainment. Known for its award winning American Faire, this thriving restaurant offers a total seating area for 231 guests. Boasting a dinning room, outside covered and open dining space and separate bar room that seats 43 guests alone! The fully stocked bar, known as the craft beer capital of SML, offers a recently updated glycol and 24 tap beer system.
The functional, spacious chefs kitchen features a double decker commercial pizza oven, walk in freezer, walk in cooler, dish station, prep station and server station. Equipped with New Updated Toast POS System with 5 terminals and 2 Hand Held terminals.
A separate 30X30 retail space is located above the restaurant and makes a fantastic gift shop, or could easily be an expansion of the bar or turned into a small apartment. Adjoining upstairs is an additional managers office space and beer cooler. A 22 KW backup generator will run freezers, coolers and septic system in the event of power loss. All equipment, décor and furnishings convey, with the exception of a few sentimental items. Public water/sewer and high speed Xfinity internet. General manager, chef, lead server and head bartender are willing to stay on.
This is a one of a kind restaurant on Smith Mountain Lake, it sits above the water and locals love it's dog friendly hospitality. The dinning experience is unmatched; from color schemes, audio system to carefully thought out finishes... you're always on lake time here.
About the Business
Years in Operation
14
Number of Employees
20
Facilities & Assets
Being sold turn key. Gross revenue in excess of $1,300,000 yearly
Website
https://www.jakesplacesml.com/
Market Outlook / Competition
Smith Mountain Lake is an ever expanding, popular tourist destination that has doubled in residents since Covid.
Opportunities for Growth
Retail space above the restaurant could be converted into a 1 bedroom apartment or additional bar area, hookah bar, etc.
Real Estate
Owned or Leased
Owned
Not included in asking price
Building Sq. Ft.
6,948
About the Sale
Seller Motivation
Owner wants to retire.
Transition Support
General Manager and select staff willing to stay on to help transition.
Listing Info
ID
2058337
Listing Views
6170
Business Location

Contact Seller

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Business Listed by: Jennifer LeeMazeika

Listing ID: 2058337 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.


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