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Off the Wall

 
Ca. Dreamers
(@ca-dreamers)
Advanced Member

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? 

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Topic starter Posted : December 27, 2020 10:04 am
Scubadoo
(@Scubadoo)
Trusted Member

Have not seen it listed or sold on the MLS

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Posted : December 27, 2020 9:05 pm
vicanuck
(@vicanuck)
Expert

I too heard it was for sale. I can't remember the last time I ate there. I hope the new owners are able to speed things up in the kitchen. One of the reasons why I haven't been there in years was the slow service.

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Posted : December 28, 2020 7:55 am
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daveb722
(@daveb722)
Trusted Member

I inquired, the owner is retiring but staying on island, I think the asking price is way to high, unless you have 800k laying around.  

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Posted : December 28, 2020 11:49 am
vicanuck
(@vicanuck)
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@daveb722

$800K...hahahahahahahahahahaha!

Askin' ain't gettin'

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Posted : December 28, 2020 3:06 pm
daveb722
(@daveb722)
Trusted Member

@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. 

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Posted : December 28, 2020 6:37 pm
jaldeborgh
(@jaldeborgh)
Advanced Member

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.

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Posted : December 29, 2020 8:27 am
janeinstx
(@janeinstx)
Trusted Member
Posted by: @ca-dreamers

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? 

Diana and Craig are staying

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Posted : December 29, 2020 1:09 pm
Ca. Dreamers
(@ca-dreamers)
Advanced Member

@janeinstx Thanks Jane.

 

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Topic starter Posted : December 29, 2020 1:13 pm
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Jumbie
(@ohiojumbie-2)
Trusted Member

@daveb722

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.

 

Jumbie

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Posted : December 30, 2020 6:45 am
daveb722
(@daveb722)
Trusted Member

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

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Posted : December 30, 2020 12:28 pm
Stxdreaming1
(@stxdreaming1)
Advanced Member

@vicanuck

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!

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Posted : December 30, 2020 11:16 pm
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vicanuck
(@vicanuck)
Expert

@stxdreaming1

Agreed...I was at the Fred a few weeks ago for a Sunday Funday.

Definitely not worth anywhere near $6.8 million. 

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Posted : December 31, 2020 8:12 am
janeinstx
(@janeinstx)
Trusted Member

@daveb722 all of that information is correct

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Posted : December 31, 2020 10:21 am
janeinstx
(@janeinstx)
Trusted Member

@daveb722 all of that information is correct Scott is Craigs' brother. 

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Posted : December 31, 2020 10:25 am
speee1dy
(@speee1dy)
Expert

they arent all that good anyhow  and agree, way too high

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Posted : December 31, 2020 1:01 pm
Gettermoving
(@gettermoving)
Active Member
Posted by: @daveb722

I inquired, the owner is retiring but staying on island, I think the asking price is way to high, unless you have 800k laying around.  

Good gravy. They better be pulling in $100k profit per year to be asking that much. Unless there's gold underneath that place or something. Sweet location but I doubt it's worth the asking price. 

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Posted : January 22, 2021 2:09 pm
Fishbait
(@Fishbait)
Advanced Member

@jaldeborgh we know the owner of The Landing (Old Eat@) I think the business, just the furnishings, etc was listed for $150k. She now also has an interest in the land, has rejuvenated the surrounding properties and the place looks great. 

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Posted : February 7, 2021 9:46 am
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