up up and Away!
A hot air balloon business in the heart of California’s popular Napa Valley has hit the market for $12 million.
But it’s not just brick and mortar. Known as “Balloons Over the Valley,” the listing comes with eight hot air balloons that accommodate 20 passengers at a time, nine vans used to meet up with the balloons and three separate properties. which are more than 3 acres in total, The Napa Valley Register reported.
Those three properties include parcels at 603 California Boulevard, and 5350 and 5360 Washington St., between Napa and Yountville, California.
Bob Barberick, who has operated the business for 45 years, currently has four pilots, 32 ground staff, hospitality team members and reservation specialists, the outlet added.
Barbaric, 75, who recently married, revealed he’s struggling to leave his longtime occupation, but he knows it’s time and wants to do some traveling.
“My heart is heavy,” said Barbarik. “It’s time to take on the next adventure.”
Initially, when his hot air balloon business began in 1976, Barbaric was only legally allowed to operate his business 50 days a year, with each ride costing $45 per person, or about $241 in today’s figures Is.
Now, they’re allowed to ride the balloon 225 days a year, with a starting cost of $269 for a one-hour ride that currently flies about 60 people. It is an expensive business to be in.
“The last balloon I bought was for $149,000,” Barbaric told the Register. He recalled that his first balloon cost only $6,500.
Michael C. Holcomb of Strong & Hayden Commercial Real Estate is the listing agent.