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Boutique Bed and Breakfast Inn

Location: Wilmington, North Carolina

ID: (#200640)

200640
Price:$2,120,000
Revenue:$400,000
Cash Flow:$201,000
FF&E (Assets):$125,000
Inventory:$0
Real Estate:$1,470,000

Overview

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. A new management with experience in hospitality marketing and operations will easily achieve a multi-year, repeated two-digit 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 business' 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 Hansen Matthews of Maus, Warwick, Matthews & Company.

SBA Cares Act Debt Relief Program: The SBA will automatically pay the first 6 months of principal, interest, and fees on new SBA loans issued prior to September 27, 2020. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

Details

Reason for Selling:

Retirement

Established:

2006

Employees:

4

Furniture, Fixtures, and Equipment (FF&E):

All furnishing of the bedrooms and the public spaces of the premises, including artwork. Assets are well maintained and in good condition. The dollar amount listed is estimated fair market value.

Facilities:

Historic downtown building with 12 guest bedroom, breakfast room, a charming sunroom, several small verandas, and most importantly, ample off-street parking, (real estate brokered by Hansen Matthews/Maus, Warwick, Matthews & Company)

Competition:

This is a vacation destination as well as a location that welcomes business travelers. The nearby university houses its academic teaching applicants at this B&B. There are some larger hotels in the area and a few competing B&Bs.

Opportunities for Growth:

A multitude of unused marketing avenues and margin increasing opportunities.

Support and Training

The current property manager is willing to remain with the company for a certain amount of time to assist in the transition and training of the new owners.

Broker Contact Information

  • Regina Fisher
  • North Carolina - Wilmington
  • (910) 520-0737 Mobile
  • (208) 401-9523 Office
  • (208) 248-5610 Fax
  • By Appointment Only
  • Carolina One Properties Inc
  • North Carolina - Wilmington
  • By Appointment Only
  • Wilmington, North Carolina
  • Real Estate Broker: Carolina One Properties Inc