Rare opportunity to acquire one of Delaware’s longest-operating and most iconic upscale steakhouse properties, featuring over 30 years of established operations, loyal repeat clientele, strong brand recognition, and prime real estate ownership. This highly visible, real-estate-backed hospitality asset generates approximately $1.2M–$1.4M in annual revenue and includes private dining, full bar operations, secured adjacent parking, and significant upside through modernization, expanded hospitality offerings, or redevelopment potential. Ideal for owner-operators, regional restaurant groups, hospitality investors, or strategic buyers seeking a landmark restaurant opportunity with stable cash flow and long-term real estate value.
- Asking Price:
- $1,700,000
- Sales Revenue:
- $1,200,000
- Cash Flow:
- $258,000
Property Information
- Real Estate:
-
Real Property Included
- Living Accommodation:
-
There is space for an apartment on the third floor of the building.
- Location:
-
Wilmington, DE
- Premises Details:
-
The premises feature approximately 4,556 square feet with seating for approximately 170 guests, including a private dining room accommodating up to 60 patrons, multiple bar areas, and a full-service commercial kitchen. The offering also includes prime mixed-use real estate, secured leased parking directly across the street, and a highly visible location positioned within one of Wilmington’s most established dining corridors.
- Size in square feet:
- 4,556
Business Operation
- Management type:
- This business is owner operated.
- Expansion Potential:
-
The business presents significant upside potential through enhanced digital marketing, improved social media engagement, targeted private dining promotions, and expanded event-driven programming. A stronger online presence, modernized branding initiatives, and strategic community outreach could further increase customer frequency, attract younger demographics, and drive incremental revenue growth. The existing private dining rooms and upscale atmosphere also create an opportunity to substantially increase higher-margin private events, corporate functions, wine dinners, and special occasion bookings
- Competition / Market:
-
Very few independent steakhouses with included real estate come to market in the Delaware and greater Philadelphia region, particularly assets with over 30 years of operating history and established brand recognition. Competing upscale steakhouse concepts are often lease-dependent operations, making this opportunity uniquely positioned as a real-estate-backed hospitality investment with long-term stability and redevelopment optionality
- Reasons for selling:
-
Owner Retiring
- Trading hours:
-
Dinner only
- Employees:
- 3 full-time employees 17 part-time employees For a total workforce of approximately 20 employees
- Years established:
- 30 years
Other Information
- Support & training:
-
Owner will stay for 3-6 months to ensure a smooth transition.
- Financing available:
-
N/A
- Furniture / Fixtures value:
- $500,000
- Inventory / Stock value:
- $50,000
