Grandfathered Norfolk Smoke Shop License | Rare Turnkey Opportunity

Asking Price$249,000

Cash Flow

EBITDANot Disclosed

Gross Revenue$540,000

Inventory$80,000
Not included in asking price
FF&E$40,000
Included in asking price
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Grandfathered Norfolk Smoke Shop License | Rare Turnkey Opportunity


Asking Price$249,000

Cash Flow

EBITDANot Disclosed

Gross Revenue$540,000

Inventory$80,000
Not included in asking price
FF&E$40,000
Included in asking price

Seller Financing Available
Business Description
This is a rare opportunity to acquire a well-established and professionally built-out smoke shop operating in a highly visible retail corridor in Norfolk, Virginia. The business benefits from an existing grandfathered business license in a difficult-to-enter market, creating a significant barrier to entry and long-term strategic value for a new owner.

The store has generated over $500,000 in annual sales and has operated in the area for more than a decade with an established customer base and strong community presence. Ownership has invested an estimated $150,000+ into the location over the years, including extensive retail buildout improvements, upgraded infrastructure, showroom enhancements, merchandising fixtures, storage areas, and private back-office space.

The facility is approximately 2,360 square feet and includes a professionally designed retail showroom, display shelving, POS systems, security and surveillance systems, signage, office infrastructure, and operational equipment. The business is being offered as a turnkey opportunity with Furniture, Fixtures & Equipment (FF&E) included in the sale. Inventory may also be included depending on the transaction structure.

This opportunity is ideal for an owner-operator or an existing operator seeking to expand into a restricted, difficult-to-replicate market with existing licensing advantages.
About the Business
Years in Operation
13
Employees
3 (1 Full-time, 2 Part-time)
We have a trained staff for a turnkey operation
Facilities & Assets
This well-established smoke shop is located in a highly visible Norfolk retail corridor and has benefited from over $150,000 in upgrades and improvements over the past 10+ years. The space features a professionally built-out showroom with display shelving, merchandising fixtures, POS infrastructure, security systems, signage, storage areas, and private back offices.

The business includes upgraded electrical, HVAC, lighting, and retail-specific improvements designed for smoke/vape operations. A major advantage is the existing grandfathered business license, as the city no longer issues them.

Included:

Furniture, Fixtures & Equipment (FF&E)
Display cases and retail shelving
POS systems and operational equipment
Security and surveillance systems
Existing signage and branding assets
Office and storage infrastructure
Established customer base and operating location
Inventory (if included in final terms)

The premises are approximately 5,000+ square ft under the current lease agreement.
Website
https://papajoesvb.com
Market Outlook / Competition
We are a dominant location in the area -- there are plenty of other smoke shops but this store has been around so long it helps with customer retention.
Opportunities for Growth
There is a full back warehouse attached to this retail location that be be used to sub-let or for other income opportunities.
Real Estate
Owned or Leased
Leased
Building Sq. Ft.
5,000
Rent
$5,300.00 per month
Lease Expiration
6/1/2028
About the Sale
Seller Motivation
Family changes
Transition Support
We have a Policies and Procedures manual for this location
Financing Options
Will owner-finance part of the deal -- and inventory is included
Listing Info
ID
2511155
Listing Views
Business Location

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Business Listed by: Tyler Chianelli

Listing ID: 2511155 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.


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