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232 Water St

Carbonear, Newfoundland and Labrador, A1Y 1C3, Canada

Property ID: #1360 // commercial
232 Water St
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Online Only Event/Auction:
July 17th 10:00 AM - 04:00 PM CDT
List Price:
$4,950,000.00
Sugg. Opening Bid:
$2,900,000.00
My Best Offer:

x
What is a Pre-Event Offer? This property can be purchased prior to the event's start date. If accepted, this property will be removed from the upcoming auction. Benefits to purchasing prior to event.
Icon 10,890 ft²
Icon - acres
Icon - beds
Icon 4 baths
Address:
232 Water St
City:
Carbonear
State, Province or Island:
Newfoundland and Labrador
Zip Code:
A1Y 1C3
Country:
Canada
Property Type:
Commercial
Additional Property Types:
Bar/Lounge, Business, Commercial, Investment, Office, Restaurant, Retail, Special Purpose
Property Size:
10,890 ft²
Half Baths:
4

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Property Information

The entire property and business are being sold together. The “Stone Jug” property features 3 distinct floors, plus the addition of a full basement for a total of approximately 12,000 sq. ft. Each floor is approximately 3000 sq. ft. The 1st floor seats 85+ guests and has an 85 ft. bar and an open concept kitchen. The 2nd floor easily seats 200 guests. The 3rd floor theater and conference room seats 120 guests. *In 2020 the addition of a 2000 sq. ft. outdoor Austrian Beer Garden has been erected adjoining the Stone Jug property. Outdoor seating can accommodate 130 guests.

 

All of these facilities make the Stone Jug a perfect venue for weddings, meetings, conferences, functions, theater & musical performances. Whether it’s a private event, a night out with friends, a business dinner or just a casual evening in the pub, you can move from one floor to the next to a completely different venue. There are no other similar facilities in Canada, making this an instant positive ROI and cash flow for years to come. It's a booming busy spot!

 

The building is a historical structure built with 1-Meter-thick walls made out of hand-carved stone dating back to the early 18th century. It rivals other historical buildings found in New York, Paris or London. The building has undergone a total of $5,000,000 USD in restoration by the current owner recently sparing no costs. Clients are mesmerized by the beautiful gleaming hardwood floors & stairs, copper ceilings, glittering chandeliers and hand-crafted woodwork.

 

The property includes a 10,000 sq. ft. additional property currently used as a parking lot, which has the potential to be converted into a hotel or other facility.

 

The property is currently Licensed as a restaurant & Lounge, with liquor, wild game & fishing licenses with no restrictions. The entire operation and the physical property are included in the offer. This popular establishment is continually selected by the public, as a preferred venue for weddings, meetings, conferences, multi-level functions, theater & musical performances. “Stone Jug” has also been listed by the tourist industry, as a “must visit” 5 Star Attraction in Canada.

 

Stone Jug is extremely profitable since its opening in 2015. The profit level was 12% of sales in 2016, and 20-22% of sales in 2017-2023.

DISCLAIMERS & AGENCY DISCLOSURE

  • Earnest Money: Total earnest money is to be negotiated at the time of offer and to be agreed upon in writing in a Purchase Contract by the Buyer and Seller.
  • Brokers and agents are fully protected end encouraged to participate.
  • RealtyHive & Micoley.com, LLC are licensed auction firms working for the seller of said property, performing auction and auction marketing services as a part of this transaction.

DISCLAIMERS & AGENCY DISCLOSURE

Properties may sell prior to Online Event, so contact a RealtyHive.com Representative TODAY at (888) 662-1020

ALL OFFERS/BIDS ARE SUBJECT TO SELLER’S APPROVAL

This online event is being held by Micoley.com LLC, also DBA RealtyHive, LLC (“RealtyHive”) which is an auction company. By participating in this event, you are electing to be bidding/offering on and possibly purchasing a property via an auction format and as sold to you via an auctioneer. If you want to be utilizing the professional services of a Real Estate Broker, you should contact a Real Estate Broker licensed in the state in which the Property is located (Properties have Local Listing Brokers available or you can use a local licensed Broker in the state the property is located). The rules, services and obligations between auctioneers and realtors are very different. If you are unsure of which professional you wish to utilize, we suggest you consult an attorney.

AGENCY DISCLOSURE: RealtyHive, the Auctioneer, and all other licensees employed by or associated with RealtyHive.com, or the Auctioneer, represent the Seller in the sale of this property.

BUYER’S FEE: Buyer agrees to pay a “Buyer’s Fee” (if applicable), which shall be added to the negotiated purchase price/successful high bid and will be included in the purchase contract as part of the total purchase price. See the Property details on www.realtyhive.com or contact a RealtyHive Representative at (888) 662-1020 for the amount of the Buyer’s Fee for this property.

AUCTION FORMATS: RealtyHive offers multiple Auction Formats. Please see the Property details on www.realtyhive.com or contact a RealtyHive Representative at (888) 662-1020 for the Auction Format of each property.

PROPERTY DISCLOSURE/INSPECTIONS: Buyer acknowledges that this property is being sold on an “AS-IS, WHERE-IS” basis, and that Seller and RealtyHive make no representations or warranties as to the property condition except as described in a Buyer’s Purchase Contract. Buyer’s personal inspection, and inspection by qualified experts prior to the online event, is encouraged. Buyers and parties inspecting the property on behalf of the Buyer assume all risk associated with any inspection of the property.

PURCHASE CONTRACT: A Purchase Contract in any real estate contract used for the purchase of the property that is drafted by a licensed Broker or Attorney in the state in which the property is located.

BIDDER'S INFORMATION: Each property has Bidder’s Information located in each property document section on RealtyHive.com, which you must read/download before you will be permitted to bid on the property. The information is solely intended to provide interested parties with preliminary information only. It is not a solicitation of offers and does not constitute an offer to sell. The delivery of this material to any person shall not create any agency relationship between said party and RealtyHive. The information included herein is believed to be correct but is not guaranteed. No investigation or review by RealtyHive has been made as to its accuracy; some information furnished is from outside sources deemed to be reliable but is not certified as accurate by the Seller, RealtyHive, or any of their affiliates. All information contained herein is subject to corrections, errors, and omissions. All offers/bids must be based on the buyer’s own investigation of any property offered herein and not on any representation made by the Seller, RealtyHive, or another party. Neither Seller nor RealtyHive make any representation or warranty, express or implied, with respect to the property identified herein, and the property is being sold in an “AS-IS, WHERE-IS, WITH ALL FAULTS” condition except as specifically stated in a Purchase Contract.

The recipient of this information and their agents acknowledge and agree that the examination of the information included on this site is being conducted solely for the purpose of evaluation in good faith their interest in submitting a bona fide offer/bid for the purchase of the property. The recipient further agrees that all information about the property which is not public record and was not obtained through Realtyhive.com, the managing agent, or the Seller for purposes of evaluating its interest in the purchase of the property, will be held confidential and will not be disclosed to any other party except those assisting or working with or for the recipient in connection with evaluating the property.

EARNEST MONEY REQUIREMENT: Total earnest money to be negotiated at the time of offer and to be agreed upon in writing in a Purchase Contract by the Buyer and Seller.

CLOSING DATE: To be negotiated within 30 days of the online event date unless otherwise agreed to in writing in a Purchase Contract by Buyer and Seller.

REALTOR/BROKER PARTICIPATION: A cooperating brokerage fee can be earned by the Real Estate Broker acting as a Buyer’s Broker, whose Buyer closes on the property as agreed upon in the executed Purchase Contract. Please see the Property details on www.realtyhive.com or contact a RealtyHive representative at (888) 662-1020 for the cooperating brokerage fee offered for each property.

# File Title Download
1 LetterOfIntentToPurchase
2 Stone_Jug_Inventory_-_232_Water_St
3 property_brochure_RUz


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