River To Sea Gallery & Cape Fear Paint & Wine

Undisclosed Address, North Carolina
Business Opportunity for Sale
Catylist Listing ID: 30342098
Property Subtypes: Retail Stores
Building Size (RSF): 1,200 SF
Sale Price: $80,000
Name of Establishment: River To Sea Gallery
Business Website Address: www.rivertoseagallery.com
Year Business Established: 2009
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Qualified buyers only.
Last Updated: 10/16/2018

Overview / Comments

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.

Additional Details

Industry Segment: Other Retail Stores
Reason for Selling: Owners each have a separate business/career that is growing and needs their individual attention
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Employee/Labor Description: Occasional part time help coverage on an as needed basis.
Mgmt/Training Support Description: 30 days transition time offered by owners
Competition/Market Description: No competition on the Riverwalk. This is one of the remaining small retail galleries of handmade artwork in the downtown proper area.
Growth/Expansion Opportunities: Further attention and development of the Cape Fear Paint and Wine business would provide significant growth in revenue. Utilizing the outdoor patio along the Riverwalk more for wine tastings is an additional opportunity.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,327 8,788
Median Age: 47.6 50.95
Households: 1,798 3,828

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