Prime Location - River To Sea Gallery For Sale

Wilmington, NC (New Hanover County)

Prime Location - River To Sea Gallery For Sale
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Asking Price: Get Financing: $80,000

Cash Flow: N/A

Gross Revenue: $85,000

EBITDA: N/A

FF&E: $7,500

Inventory: $7,000*

Lease Rate: $16.88 /SF/Year

Established: 2009

*not included in asking price.

Prime Location - River To Sea Gallery For Sale

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Business Description

Enjoy Holiday Sales Income

For sale is the wonderful opportunity to own a multi-faceted art focused business in the ideal location in downtown Wilmington.

River to Sea Gallery showcases and retails the work of over 60 local and regional artists. The gallery also includes the wine shop and has a beer and wine license in place that would be available for new owners to re-apply for.

It is currently located on the Historic Wilmington Riverwalk, recognized by USA Today as “Best American Riverfront”. The perfect location to shop for handmade art, participate in a painting class or enjoy a nice glass of wine while watching the sunset....

Established in 2009 in Chandler’s Wharf, the River to Sea, moved across the street in 2015 to the current location on the Riverwalk, doubling their space and started Cape Fear Paint & Wine providing another income avenue.

The gallery occupies 2 condo units totaling 1200 sq. ft. of retail and studio space with approximately 1200 sq. ft. of additional outdoor space partially canopied currently used for the Cape Fear Paint and Sip classes.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,200
Lease Expiration:
5/31/2021
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1200 sq. ft. interior retail and studio space. Approx. 1200 sq. ft. outdoor/patio
Competition:
Only Pros: Competition for affordable retail handcraft and art has declined with the closing of other small retail galleries in downtown. The location is superb in walking traffic on the Riverwalk year long with high peak traffic in the tourist season. Business has established social medial and email list for marketing to their existing clientele.
Growth & Expansion:
Potential to utilize the outdoor area to broaden and expand the number of paint and sip classes each week or month is unlimited. Additionally the space is rented on a limited basis to individual yoga instructors.
Support & Training:
Owners will provide 30-60 days transition training and support.
Reason for Selling:
Taking artist career forward with wholesale business
Business Website:
http://www.rivertoseagallery.com
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Business Location


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(from currently available funds)
 
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Joan Loch

Business Listed By:
Joan Loch

Momentum Companies

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Sponsoring Broker:
Terry Espy

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