Premier Smith Mountain Lake Waterfront Restaurant for Sale

Moneta, VA
Asking Price:$2,999,999
FF&E:$500,000
Gross Revenue:$1,300,000
Established Year:2011
BUSINESS DESCRIPTION

Sold Turn-key, once in a lifetime opportunity.

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 a 7 station POS, Micros 3700 computer system
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.


DETAILED INFORMATION
Location
Moneta, VA
Inventory
Not Included in asking price
Real Estate
Owned
Building SF
6,948
Employees
20
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Being sold turn key. Gross revenue in excess of $1,300,000 yearly
Competition
Smith Mountain Lake is an ever expanding, popular tourist destination that has doubled in residents since Covid.
Growth & Expansion
Retail space above the restaurant could be converted into a 1 bedroom apartment or additional bar area, hookah bar, etc.
Support & Training
General Manager and select staff willing to stay on, seller will pay GM salary for up to 6 months after sale.
Reason for Selling
Owner wants to retire.

BUSINESS LOCATION
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Jennifer LeeMazeika
Jennifer LeeMazeika