Listing ID # 33039
Stunning Inn and Restaurant on the Cape. Drastic Price Reduction! Must sell. MA Opportunity Zone. Open and operating! This boutique inn offers 15 well-appointed rooms with spectacular views as well as a 145 seat bar and restaurant with large multi location outside and inside dining to comply with social distancing guidelines due to Covid 19. The proprietors spent over $2.5 million in recent upgrades and renovations throughout the property. This has resulted in 20% YOY revenue growth with little marketing outreach. In the most recent year gross sales were approx. $2,200,000.00 with a cash flow of approx. $696,723.00. The business has had a strong 2020 with negligible impacts of Covid as this area is viewed as a safe haven with fresh air surroundings on a historic national seashore. The sale price includes the inn, restaurant for $800K. Profitability will be higher in 2020 over 2019. The property is available for sale through the owner directly for $5.5 million. Highlights include a business and property in a MA Opportunity Zone, a year round liquor license for the entire site plan, a full entertainment license until 12:30 AM, 5 separate revenue streams, hotel expansion opportunities, a 1 bedroom guest cottage, beach access across the street, built in private events clients, and much more. We are seeking a serious and financially qualified buyer with strong credit and at least $945K - $1.5mil. in liquid funds to qualify for bank lending such as an SBA loan. A background in the hospitality industry is ideal. To learn more, please call or email broker. Full financials and address cannot be provided until a buyer has provided proof of liquid funds. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only!
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