Norfolk hotel, steak eatery sites to be auctioned

NORFOLK

If you've ever wanted a 152-room hotel and steak restaurant, now's your chance.

The owner of the property that once housed The Grate Steak restaurant and the adjacent, also closed, America's Best Value Inn has hired an auction firm to sell the real estate Dec. 14.

Bids for the property, near the intersection of Military Highway and Interstate 264 in Norfolk, will start at $4 million, announced auction firm Atlantic Asset Management Group Inc.

The property's owner, BWCI Inc., is an affiliate of Larrymore Organization, a real estate management firm in Virginia Beach.

The Grate Steak restaurant, where customers could do their own grilling, shut down in March after 27 years in business, shortly after its owner died. The hotel, which also closed recently, had once been affiliated with the Best Western chain.

If the hotel and restaurant do not sell at auction on Dec. 14, the auction firm plans to try selling parts of the property separately, according to Atlantic Asset's news release.