Off the Wall
We heard that our favorite place and our Sunday Afternoon Hang out is being sold. Anyone know if it's sold and if Diane and staff are staying on island?
@vicanuck that's exactly what I thought, wayyyy overpriced for a pizza place, the land is just that sliver along the coast. ROIC would take 20 years if not more, not knowing financials and to work would need to gross 4k a day imo and work 80 hours a week. thanks, but no thanks. I can buy multiple properties here and rent them and make more money yearly.
I thought I heard that Leatherback Brewing bought the old Eat At Cain Bay for something less than $300K. Likely it was only the business but I doubt the Off The Wall real estate is worth anything near $800K if it’s only a sliver of land. I also agree with the comments on working 80 hours a week, small restaurants are hard work for the owners. I do love the spot, just doubt it’ll bring anywhere near that kind of money.
It was always my impression from having lived on St Croix in Cane Bay from late 2005 to May 2012, that Craig & Diana did not own the land OTW was on. I thought they only bought the “business” from owners Rick & his wife Kate (?) who also did not own the land OTW sits on.
According to mapgeo it's ownership is listed as Off the Wall in Cane Bay, LLC. USVI deed department shows a mortagage in the same LLC and Thomas Loos. The email I received was from Scott McCullogh stating he was the co-owner. So not sure if that even answers any questions. LOL
Same as the owners of The Fred wanting $6.8 mil.
Given the current economic situation I would be amazed if they get even half that...but what do I know!
Agreed...I was at the Fred a few weeks ago for a Sunday Funday.
Definitely not worth anywhere near $6.8 million.