Sold for $1,340,000

206, 208, 210 Queen Street
Alexandria, VA 22314

Sqft: 3,732

Acres: 0.06

Description

Valuable and rarely available commercial property in the Historic District of Old Town Alexandria! An exceptional opportunity to purchase a unique space with warmth and character that will boost image and morale for any enterprise. Recently operating as a family-owned restaurant and bar with seating up to 200, this property was known as a cozy, local gathering place with regular local customers. Would make a great new home for a trendsetting company in web design, graphic arts, architecture, travel, or high-end sales. Could be perfect for a professional service firm in law, lobbying, insurance, travel, international business, event planning, bridal services, or real estate. Imagine the charm of hardwood floors and brick fireplaces while boasting your own full bar for corporate entertaining and happy hours! Ideal location just two blocks from the Potomac River waterfront, Founders Park, and Chart House restaurant, two blocks from the main shopping, dining, and retail destination of King Street, and only three blocks from the Torpedo Factory Art Center and City Marina. This location is a blend of residential, commercial, and retail and within a short walking distance of all that Old Town has to offer. Plenty of parking surrounds the property, making it an ideal location for commercial or residential uses. 

This offering consists of three properties (206, 208, and 210 Queen St) that are owned and being sold together. The units are open and conjoined inside, offering nearly 4,000 square feet with dining room seating on the main and upper floors, including semi-private rooms, and a 30-seat bar area on the main floor. There is a full kitchen area at the rear of the main floor, restrooms at each end of the restaurant, and additional storage and office space in the basement. Restaurant-related rooms include a walk-in refrigerator and a walk-in freezer. This bar was known as having “the coldest beer in town” because the taps run only 6’ straight down from the bar to the beer freezer in the basement below!

The property has operated since 1980 as the quaint Bilbo Baggins Restaurant, and the theme certainly matches the name with fantasy artwork murals and countryside décor. There are stained and decorative glass windows throughout and vaulted ceilings upstairs. The quirky charm of the interior comes from real hardwood floors, an old brick oven in the center of the dining room (not in use), and a modern gas fireplace in the corner of the bar area. The walls, ceilings, and lights are configured to provide both cozy, romantic areas as well as wide-open dining spaces for larger groups, business lunches, and celebrations. These buildings are zoned CD restaurant, and there is a Special Use permit, grandfathered with the business license, which allows operation as a restaurant and bar until 2 am. A previous appraisal from 3-4 years ago valued the property at $4.2M. The restaurant reported gross sales averaging $1.2M in 2018 and 2019.

The property still contains all the trade furnishings of a restaurant and bar, which are not included in this sale but may be negotiated for separate purchase as personal property. The trade name “Bilbo Baggins Restaurant” is not included in this sale, but may also be negotiated for separate purchase. This sale is subject to the approval of the US Bankruptcy Court. Broker participation encouraged.

Details

  • Status: Sold
  • Sold Date: 07/16/21
  • Agent: Stephen Karbelk
  • MLS Number: VAAX254144
  • Property Type: Commercial
  • flooring: Ceramic Tile and Hardwood
  • construction: Brick, Concrete, Mixed, and Other

Documents

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