Details - Information last confirmed on July 7, 2021
Opportunity to purchase historic downtown real estate that pays for itself.
The Front Street Inn Boutique Bed & Breakfast is located in a historic brick building in the central downtown area of Wilmington, a thriving and fast-growing town in eastern North Carolina. The business comprises of twelve guest bedrooms, a breakfast room, a charming period sun room, a few decks and ample off-street parking, which makes this an unrivaled facility. The Inn could also be converted into 7-8 long term rental apartments.
The business yields a cashflow in excess of any purchase mortgage amounts and effectively pays for itself, respectively builds equity over time. Listed revenue and cashflow are from 2019. In 2020 the Inn was closed for 3 months.
A new management with experience in hospitality operations will easily achieve significant profit growth by tapping into the multitude of unused marketing avenues and margin increasing opportunities.
In addition, a two-bedroom house is located at the back of the property with a right of way through the Inn's parking lot. This house is an ideal owner’s or manager’s quarter. It is separately sold and available with a right of first refusal to the buyer of the B&B business.
All real estate brokered by real estate company.
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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.