Longtime Red River dive bar and live-music haunt Valhalla is suddenly in a tight spot. The two-story building that houses the club at 710 Red River Street is officially on the market, and co-owner Seth Levy says the space was offered to the Valhalla team, but they simply do not have the cash to swing it. For now, the circular bar, downstairs stage, and nightly shows roll on while brokers quietly shop the property and the venue’s future hangs in the balance.
Listing and price
According to The Austin Chronicle, the building is now listed on commercial marketplaces, with a listing update landing in mid-April. Marketing materials on LoopNet peg the asking price in the roughly $1.895 million to $1.995 million range and note that the property has been on the market since October 2025, according to a broker flyer posted on LoopNet. The public listing includes broker contact information and specifies that the current tenant’s lease runs through the end of 2025.
Owners and operators weigh options
Levy, who opened Valhalla in 2010 with Elysium owner John Wickham, told The Austin Chronicle that the landlord offered to sell them the building, but the numbers just do not work. “It’s too bad we didn’t have $2 million,” he said, adding that the team is being kept in the loop as the sale process moves forward. Local reporting also identifies current owner Brandi McDaniel as having bought the parcel as an investment in 2013, per The Austin Chronicle.
What the sale would mean for Red River
Valhalla is part of the Red River Cultural District, a tight-knit cluster of small venues that powers the district’s Free Week and Hot Summer Nights programming and regularly hosts SXSW showcases. That makes the bar a small but visible anchor in downtown Austin’s live-music ecosystem. The district’s website lists Valhalla among its member venues and promotes the free-show festivals that pull local bands and crowds into the neighborhood, according to the Red River Cultural District.
City records for the parcel underscore the stakes. Recent assessments place the property’s total value in the low-millions, reflecting the steady rise in downtown land prices that can squeeze margins for mom-and-pop nightlife operators, according to City of Austin records.
What’s next
Levy told the Chronicle that the hope is straightforward: a new owner who is willing to let Valhalla renew its lease. Staff are watching the sale closely while the venue keeps booking shows. Event listings indicate that Valhalla still has local lineups on the calendar in the near term, so business carries on until, and unless, an ownership change forces a different outcome, according to Songkick.
If a sale closes to a buyer who is not interested in renewing the bar’s tenancy, Levy said relocation or other options would be on the table. For now, though, no final decisions have been announced.
