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Listed by KAT CAHOON KELLER WILLIAMS REALTY ROANOKE
$ 260,000
Est. payment | /mo
$ 260,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 930442
HOA Y/N No
Year Built 1930
Annual Tax Amount $992
Acres 1.41
Property Sub-Type Commercial
Source Roanoke Valley Association of REALTORS®
Property Description
Equipped former restaurant and mixed-use investment opportunity. Situated on approximately 1.41 acres just 0.6 mile from US Route 220, the property offers convenient regional access and a long history as a community dining destination.
The building is configured for restaurant use with an approximately 100-person occupancy capacity, and the existing restaurant equipment remains on site. The business is currently closed; however, the existing layout and equipment provide a prospective owner-operator with an opportunity to reopen under a new or revived concept, subject to all required permits, licenses, inspections and approvals.
Seller-prepared historical financials report 2025 sales of approximately $312,165, an increase of approximately 21% over 2024 sales of $257,700. Seller-reported 2025 net income was approximately $82,093, compared with $54,305 in 2024. These figures reflect prior operations and are not a representation of future performance. Supporting financial documentation is available for qualified-buyer review.
The property is presented as allowing both commercial and residential uses, offering potential for restaurant reuse, another commercial concept or mixed-use repositioning. The roof is reported to be approximately 6-8 years old. Purchaser to independently verify zoning, permitted uses, occupancy, acreage, equipment condition and inclusion, financial information, licensing requirements and property condition.
The building is configured for restaurant use with an approximately 100-person occupancy capacity, and the existing restaurant equipment remains on site. The business is currently closed; however, the existing layout and equipment provide a prospective owner-operator with an opportunity to reopen under a new or revived concept, subject to all required permits, licenses, inspections and approvals.
Seller-prepared historical financials report 2025 sales of approximately $312,165, an increase of approximately 21% over 2024 sales of $257,700. Seller-reported 2025 net income was approximately $82,093, compared with $54,305 in 2024. These figures reflect prior operations and are not a representation of future performance. Supporting financial documentation is available for qualified-buyer review.
The property is presented as allowing both commercial and residential uses, offering potential for restaurant reuse, another commercial concept or mixed-use repositioning. The roof is reported to be approximately 6-8 years old. Purchaser to independently verify zoning, permitted uses, occupancy, acreage, equipment condition and inclusion, financial information, licensing requirements and property condition.
Location
State VA
County Botetourt County
Area 1.41
Direction 220N toward Fincastle and Eagle Rock; turn Right on James St. & continue over the bridge. After crossing the bridge, take a right onto state route 43. Iron & Oar Diner will be on the right side.
Interior
Fireplace No
Exterior
Parking Features On Site
Garage No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 27A-50 & 27A-65 & 27A-64
Nearby Locations
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