North Lodge on Oakland
SOLD

Asheville, North Carolina
www.bandbconsulting.us

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Property Type
Bed & Breakfast / Inn
Guest Rooms
6
Baths
6
Restaurant
No
Owners Quarters
Yes
Asking Price
$1,450,000

Occupancy Rate
75%
Average Daily Rate
NA
Gross Revenue
NA
Gross Revenue Multiplier
NA

Property Overview

In the heart of Asheville, NC, is a superior opportunity to own a financially viable B&B, within a one mile radius of all the major attractions, such as the Biltmore Estate, River Arts District, Downtown Asheville, breweries, and the finest restaurants in the area.


Property Description

Built in 1904, the North Lodge on Oakland is a beautifully restored, top-rated Inn located in a quiet residential neighborhood, surrounded by mature trees and lush gardens. The Inn offers six beautifully designed guest rooms, spanning three floors, all with en-suite baths and modern amenities. Guests enter the historic lobby, with original fireplace and hardwood floors, from the covered portico. The formal dining options, and enclosed porch with stone walls, provide relaxing moments for guests. Just beyond the dining room is a uniquely large farm kitchen with a center island, eating area and updated appliances. A large 2 bedroom/2 bath owners' retreat is also included and located on the main floor.


Business Description

From an investment perspective, the Inn is a highly profitable turn-key business, which can be run as a couple, or wiht an assistant while the other partner works an outside job. With a three year occupancy rate over 75% and gross revenue over $317,000, the Inn operates with a profit margin of 50%. The cap rate of 11% is attractive for a year-round B&B business in Asheville. Since Asheville is not issuing any new B&B licenses, the North Lodge is a wonderful opportunity to own a successful Inn in one of the top travel destinations in the U.S.


Reason for Selling


Terms & Asking Price