Governor's Inn

Ludlow, Vermont

Asking Price: USD $1,690,000
Guest Rooms: 9    9
Owners Quarter: 2    2

Property Overview

86 Main St sits on .44 acres of land in the village of Ludlow Vt. Walking distance to restaurants and shop in downtown Ludlow. On the shuttle route to Okemo mountain for skiing or less than a mile drive to the mountain. Close to 4 lakes on route 100 north and trout fishing on route 131. Close to breweries in neighboring towns

The current owners brought this 1890 Victorian gem of a Bed and Breakfast built by Governor William Stickney, back to life. Entering the inn you willbe awed by the woodwork, the staircase, and fireplaces in the foyer and parlor. Charm and elegance are visible throughout the building with its beautiful architecture andantique furnishings. This B & B is part of the downtown area of Ludlow and about one mile away from the entrance road to Okemo Mountain Resort. The inn boasts yearround business with skiers, hikers, bicyclists, boaters, and guests enjoying the beauty of the Green Mountain State. Located in Downtown, the inn is walking distance to restaurants and shops. The inn is part of a collaboration between 4 inns in southern Vt that offer a walking tour for guests between the months of May and October. Thefirst floor has the common areas and breakfast/dining rooms, and is able to accommodate a total of 20 guests. You will also find a commercial kitchen with a walk-incooler. The 9 guests rooms, all differently and tastefully decorated, can be found on the 2nd and 3rd floors. Each room has their own private bath. The property includes aseparate owners/innkeepers two bed and bathroom house right behind the inn, allowing separation of private and business life. Over the last few years the inn has seen anumber of renovations and updates, a full sprinkler system, fire alarm, boiler, water heater, heat pump system, dishwasher, drier, and freezer, and most bathrooms.

About the Owner's Quarters

Separate 2 story building with a full basement

Features:
  • Is Historic Historic
  • Includes a Restaurant Restaurant
  • Has a Barn Romantic
Lifestyle:
  • Nearby Winery / Brewery Winery
  • Close to Fishing Fishing
  • Includes a Restaurant Golf
  • Near Skiing Ski
Business Description:

Governor's Inn has 9 bedrooms and bathrooms and is located in the resort town of Ludlow Vt, home of Okemo Mountain. The mountain is open from November to April for skiing and during the non-winter season May to October the inn is part of a walking tour with other inns that keeps the off season busy. The owners have an occupancy rate of 35% by choice so there is a great potential for growth. The owners after purchasing the property in late 2019, started renovating the inn by adding sprinkler system, mini splits for heat and A/C, kitchen equipment and many of the 9 bathrooms.

Terms of Sale:

All business related furnishing and equipment will transfer with the sale minus personal items at the inn. All personal and furnishings of the owners quarters will not be part of the sale

Valuation & Mortgage Calculator:
30 Years Fixed
n/a % Interest
  • Loan Amount
  • Principle and Interest
  • Cash Flow
  • DSCR $0
  • Cap Rate $0
  • ROI $0
Listed By
John Napier (Listing Agent)
  860-559-9334
TPW Real Estate

MLS:

5018273

Sq Ft:

5,421

Owner's Quarters Sq Ft:

912

Acres:

0

Year Built:

1890

Last Renovated:

2020

Years in Business:

5

MLS:

5018273
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Financial Overview

Asking Price:

USD $1,690,000

Cap Rate:

9.7%

NOI:

USD $164,000

Annual Gross Revenue:

USD $361,000

Gross Revenue Multiplier:

361000x

Revenue Per Room:

USD $110

Occupancy Rate:

35%

Average Daily Rate:

USD $314

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