Hmmm...sad to see Jaxx being sold. I has served the metal community well and maybe/hopefully it still will.
In so far as purchasing this club?...not a chance in hell.
Too small. Capacity includes the lounge area and outside entrance area. These two areas take up about 30-35% of capacity.
If total capacity is in the 500-600 person range it makes running this club difficult, which it already is being mainly an all metal venue...though 375-400 at many of the shows which are booked there, from what I hear, would be a lot anyways and thusly this club does serve bands and fans of those bands that generally will not be booked in larger venues (though 20-40 people are hard to make a living on....i really though have no idea how it draws overall, just what I see read here and the few shows I have attended there over the years)
One would really need to diversify the line up and it's size would limit it's ability to do so.
Now, this not being my field, but from folks I have chatted to over the years, you really are looking for a venue that can bring in 900+ people so one can diversify and bring in larger national tours and then be able to take more risks on booking the under 100 tours. In that you are also looking for the right club that can handle both and still not feel too cramped or not too empty (not easy I would figure). In the last year or so, The Lincoln Theater, here, added an upstairs to do just that...worked well, though just not a metal stopping ground in this area.
To me, The 9.30 Club and Norva are great examples of clubs that can accomplish this, though both could do more to book metal (of course), but from time to time they both have there moments.
Ultimately running a Jaxx is no easy feat and while it has been done wonderfully though the years and serves a niche well, not a great investment in it's current location.
I guess something I do not know, is the name being sold with a lease on the building or is the building too being sold?
On another note mentioned, if anything did happen to Center Stage, the Norva at 1500 cap could be a worthy alternative with downtown Norfolk being a very very nice place.