Description

For nearly 30 years, the owners of this well kept and well maintained 18 unit Inn have very much enjoyed the lifestyle this business afforded. They are now in their 70's are are ready for the next phase of their lives. There are endless possibilities here for the entrepreneur, as the owners have scaled back on operations and services over the past number of years, due to age and health.

The building needs nothing at this time, the focus will be on business and operations to bring it back to what it once was not so long ago. We trust you'll find this opportunity to be priced accordingly and allow for a generous upside return potential.

Financial Information

In the past 4 years, the Inn has only offered rooms for sale with a continental breakfast. Average room sales have been $155k over the past 3 years, providing an average profit of $22k, with 2015 being $35k.

When the owners where a touch younger, healthier, and focused on the business, they were able to generate over $150k in additional income. There are a number of possibilities here with a historical track record to support the upside opportunities!


Real Estate / Lease

Constructed in the 1938, this steel and wood building sits on well manicured grounds totalling approximately 2.6 acres and total approximately 18,000 sft. All rooms have been recently updated, including paint, linens, drapes, TVs, and mattresses. The property offers a beautiful 1-Bedroom set up for owners living, offering tremendous south facing water views and lower level 2 car garage. Additional facilities include a banquet facility with all equipment needed, sitting room, full dining room and commercial kitchen.

1. Updated heat pump system
2. Roofing is less than 5 years old
3. Plumbing and electrical upgrades
4. Municipal Sewer and Water

You're keen eye will find this property in very good repair with many opportunities to take advantage of the under utilized assets.

Posted Jun 15, 2016

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Disclaimer: MergerNetwork has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.