Property Description

Auction Property: List price may not reflect final sales price. List price is starting bid on the property and is non-reflective of value. Auction Ends Nov 12th at 4PM. Jake's Place presents an opportunity to own a well-established waterfront restaurant on Smith Mountain Lake. Operating since 2012, the business is located approximately one mile from Hales Ford Bridge, the commercial hub of Smith Mountain Lake. The property offers more than 75 parking spaces and 20 uncovered boat slips, providing convenient access by both land and water. Constructed in 1985, the building sits on 1.27 acres and is served by public water and sewer. Features include owned restaurant equipment, a 24-tap craft beer system, and a transferable Toast POS system. The current owner has consistently maintained the HVAC units, water heaters, and other mechanical systems, with maintenance records available to qualified buyers. The restaurant accommodates approximately 230 guests and offers waterfront dining and entertainment areas. There is a total of +/- 6,366 sq feet between two levels, and multiple decks and patios. Additional income is generated through the bar and gift shop. The upper level provides further revenue potential, with space that could be used for retail, private parties, or special events. This area may also offer an opportunity to serve guests from approximately 100 nearby campsites at the adjoining Halesford Harbour RV Resort & Marina. An office space is also located on the upper level. Although the restaurant and bar are centrally located within the Smith Mountain Lake market, the business also attracts customers from throughout the region, including Roanoke, Northern Virginia, Raleigh, and Charlotte NC. Financial information and a sales portfolio are available to qualified buyers upon execution of a Non-Disclosure Agreement.

Property Features