Matt Gallimore
Broker | Owner | Auctioneer
Ask Matt Gallimore
Jake’s Place presents an opportunity to own a well-established waterfront restaurant on Smith Mountain Lake. Operating since 2012, the business is located approximately one mile from Hales Ford Bridge, the commercial hub of Smith Mountain Lake. The property offers more than 75 parking spaces and 20 uncovered boat slips, providing convenient access by both land and water.
Constructed in 1985, the building sits on 1.27 acres and is served by public water and sewer. Features include owned restaurant equipment, a 24-tap craft beer system, and a transferable Toast POS system. The current owner has consistently maintained the HVAC units, water heaters, and other mechanical systems, with maintenance records available to qualified buyers. The restaurant accommodates approximately 230 guests and offers waterfront dining and entertainment areas. There is a total of +/- 6,366 sq feet between two levels, and multiple decks and patios.
Additional income is generated through the bar and gift shop. The upper level provides further revenue potential, with space that could be used for retail, private parties, or special events. This area may also offer an opportunity to serve guests from approximately 100 nearby campsites at the adjoining Halesford Harbour RV Resort & Marina. An office space is also located on the upper level.
Although the restaurant and bar are centrally located within the Smith Mountain Lake market, the business also attracts customers from throughout the region, including Roanoke, Northern Virginia, Raleigh, and Charlotte NC.
Financial information and a sales portfolio are available to qualified buyers upon execution of a Non-Disclosure Agreement.
Click Here for Bidder Packet
Click Here for Interactive Map
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Online Auction Ends Thursday, November 12th, at 4 PM
1041 Harbour Inn LN, Moneta, VA 24121
CONTACT: Auctioneer Matt Gallimore at (540) 239-2585 or email Gallimore.Matt@gmail.com. You can also contact Realtor Katrina Byrd at (540) 797-4531 or Realtor Erik Olson at (703) 624-4777, both with Berkshire Hathaway HomeServices Premier, REALTORS.
DIRECTIONS: From Hales Ford Bridge, travel north on VA-122 & turn left onto Harbour Inn Ln. Bear left at each fork until parking.
BIDDER PACKET: Download Bidder Packet for complete information. Bidder Packet has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Bidder Packet may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.
SOFT CLOSE: If a bid is received within the last 2 minutes of the auction or after 4 PM, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates "snipers" and encourages fair and impartial bidding from all participants.
BUYER'S PREMIUM - TEN PERCENT (10%): Buyer's Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyer's Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer's premium = total purchase price of $110,000). Buyer's Premium is not due until closing.
PRE-AUCTION SALES: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all of the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that "an offer" has been submitted and on which specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for seller's acceptance. A Referral Fee of 2% of the high bid is offered to a cooperating VA State Licensed Real Estate Salesperson/Broker on any pre-auction offers that are properly completed and submitted on the appropriate forms provided. Download Bidder Pack for Online Bidder's Agreement, maps, sample contracts, and property information.
TERMS AND CONDITIONS: 10% Buyer's Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $50,000. Close on or before January 11th, 2027. Subject to seller confirmation. Property sold as is, where is with any and all faults. Buyer is expected to complete their own due diligence before placing a bid. Seller or auctioneer on seller's behalf, may bid up to but not beyond seller's reserve price. Auction starts ending at 4 PM on November 12th, 2026. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Be sure to register to bid early to ensure you receive notifications regarding any changes to the Auction, Bidder Packet and/or Pre-Auction offers received. Bidders are expected to download and review Bidder Information Pack for complete terms and conditions, purchase contract and maps.
