A 42-year-old Italian restaurant that sits on the cusp of Little Italy and Harbor East is looking for a new buyer.
Dalesio’s of Little Italy is seeking $1.95 million for its liquor license and building, which includes two floors in turnkey restaurant condition and a third floor with a two-bedroom apartment, according to an online listing.
Dalesio’s has served diners in the almost 9,000-square-foot property since the late ’80s. The buyer can keep the Dalesio’s name or rebrand the space, according to the listing.
Neither a listing agent nor the restaurant owners could be reached for comment.
The restaurant’s commercial real estate agency, The Restaurant Broker, called Dalesio’s a “quiet anchor at the edge of Harbor East” in a social media post, praising the area’s foot traffic. The business cited the owner’s “well-earned retirement” as the reason for the sale.
“This isn’t just a restaurant. It’s a building filled with stories, memories, and decades of Baltimore tradition,” the post reads.
Dalesio’s first opened in 1984. The eatery stuck out from others in Little Italy for its focus on “spa food” — a term for small portions and lean cooking — which chef Michael Dalesio and his wife, Cynthia, brought to Baltimore, according to a 2015 Baltimore Sun article. Five years later, the restaurant was sold to Paul Oliver, who shifted the menu toward northern Italian food.
The space holds 220 seats, as well as an outdoor patio and a fully equipped kitchen. Last year the business made $942,000 in gross revenue, the listing said.
The 829 Eastern Ave. business hits the market as new development from neighboring Harbor East continues to encroach on surrounding blocks. Last month, the Baltimore Business Journal reported on a proposed 32-story apartment complex at 301 S. President St. — a parking lot down the block from Dalesio’s. The New York developer would need a zoning change to permit construction of such a tall building, but a recent survey shows residents are not in favor.
Dalesio’s sits next to the 24-story Avalon 555 President apartment complex, which opened in 2020 at the former site of the Della Notte restaurant.
Dining and Cooking