2nd Generation Restaurant Space For Lease & Assets For Sale

Absolutely stunning high-end restaurant complete with gorgeous buildout, state-of-the-art FF&E, and outdoor dining space to die for – all included in the asset sale price! Completed in 2021, this one-of-a-kind restaurant space can easily reopen with your own restaurant concept within a very short period of time after the asset sale and lease assignment.

The current owners spared no expense building out the space, hiring a top-notch design team and contractors, creating a true fine dining experience. The sale also includes an indoor and outdoor bar, generous covered outdoor dining with a beautiful two-sided fireplace overlooking a lovely pond. Road visibility is unparalleled in the Mayfaire/Wrightsville Beach area. A fully equipped chef’s kitchen with equipment less than 4 years old. All furnishings and small wares will convey in the sale.

The Wilmington market has proven to be a bit of an anomaly as most restaurants experienced their highest revenues to date during and after the Pandemic. In fact, the number of new chef-driven concepts continued to grow and last year Wilmington was honored with the title of “Top 10 Foodie Destinations in Small Cities”, along with Charleston, Savannah, Ashville and Santa Fe, NM. Due to the success of the restaurant industry in this market, there are almost NO second-generation restaurant spaces available. This opportunity is ideal for a new owner to put their personal stamp on the property to generate a robust net at the end of the year.

Over the past four years, the Wilmington, NC market has been ranked the number one city to relocate to based, on data collected by moving companies such as United Van Lines, etc. That population growth is not anticipated to slow down.

The current sellers have achieved their dream of operating a fine dining eatery, but have now decided to focus on the expansion of their initial restaurant concept, much to the benefit of a buyer with their sights set on a special location to wine and dine clientele.

This Asset Sale business has a leased location of 3,300 indoor heated square feet and another 2,500 covered outdoor seating with a total monthly rental of $8,073.31 (including CAM). Yes, the lease rate is extremely competitive and well below the average rent rate in this market. Included in asking price is $650,000 in equipment and fixtures and $909,000 in leasehold improvements, .

Located at 414 Arboretum Dr. Wilmington, NC 28405, this property is in the heart of a 3-mile radius which boasts the highest incomes east of I-95 in the state of North Carolina. While seated in the outdoor dining space you can see an entrance to Landfall, one of the area’s most prestigious neighborhoods. Wrightsville Beach is just minutes from the property featuring homes averaging at $1,654,000.00.

The lack of good shopping in the surrounding region has generated a loyal customer base in this vicinity which travel in from the surrounding 5 counties, as well as the abundant tourist industry. Within view of this property is the eagerly awaited multifaceted project called “The Avenue” which will feature a Westin Hotel, upscale retail, and high-end apartments. Less than a quarter mile from the property is Mayfaire Town Center, offering 80 retail shops, 20 restaurants and numerous apartments and residential neighborhoods. Just behind Mayfaire is Center Point, another luxury mixed-use project under construction. Needless to say, the location of this restaurant space could not be better.

All FF&E conveys.