Historic Area Restaurant & Bar Listed For Sale At Just Over $2 Million

The Langhorne Hotel on April 18 as a police officer direct traffic for an event.
Credit: Tom Sofield/LevittownNow.com

The historic Langhorne Hotel, a family-owned establishment for more than 70 years, is now on the market for $2.19 million through OERE Commercial Real Estate.

The most recent sale attempt for the Langhorne Borough establishment comes after several at higher prices in recent years.

Mark Gatta, co-owner of Opus Elite Real Estate and OERE Commercial Real Estate, said the property offers exceptional value beyond just the physical building.

“It’s an established business that is family owned for well over 70 years,” Gatta explained. “The value is clearly there. From an appraisal standpoint, just the bricks alone almost justify the asking price.”

The sale includes much more than just the restaurant building, Gatta noted.

The Langhorne Hotel in 2023. Credit: Tom Sofield/LevittownNow.com

The buyer will acquire a Pennsylvania liquor license, which is valued between $350,000 and $400,000.

The property also features rental income opportunities with a one-bedroom apartment, a two-bedroom apartment, and 12 additional rooms that are “fully rented almost year round,” according to Gatta.

“There’s enough ancillary income with this purchase that’ll float the restaurant, float the mortgage and so on,” Gatta said.

The income stream, according to Gatta, addresses one of the biggest challenges facing new restaurant ventures – cash flow problems that cause many to fail within their first three years.

The property includes a 16-car parking lot and is situated in the heart of Langhorne Borough.

The current owners, who are now in their 60s, grew up in the business, working behind the bar since they were 14 years old when their parents owned the establishment. They’re now looking to retire and are willing to assist with the transition to new ownership.

“For the right person, the owners can consider financing it for them,” Gatta noted.

Gatta believes the property has significant untapped potential.

“If you get somebody in there that really is an entrepreneur that says, ‘Let me start running some drink specials, let me start bringing live musicians in, let me start doing different events within the community’ – I think it’s a no-brainer,” Gatta said.

The listing has already generated substantial interest. A brokers open house earlier this week attracted approximately 70 real estate professionals, and Gatta reports “a ton of interest so far.”

While Gatta believes an owner-operator would be the ideal scenario from both financing and value perspectives, the property could also work for an investor who leases the restaurant space to another operator.

The Langhorne Hotel, which dates back to 1704, represents a rare opportunity to acquire a turnkey operation with established clientele and multiple revenue streams in a historic Bucks County location, Gatta said.

The Historic Langhorne Association notes the Langhorne Hotel is the second oldest establishment of its kind in Bucks County and served as a crossroads for those traveling by stagecoach. Langhorne Borough, which was previously known as Four Lanes End and then Attleboro, was a main thoroughfare for those traveling between the Lehigh Valley, Philadelphia, Trenton, and New York City.

The federal National Register of Historic Places lists that the building has seen numerous changes and altercations over the years. The structure’s importance has been listed as “significant.”

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