Successful Northern Michigan B&B
Location Michigan,United States
Asking Price Range < $250K
Gross Revenues $40000
Net Profit / Cash Flow $40000
Cash Flow Type EBITDA
Seller Finance Not Disclosed
Year Established 2003
Number of Employees 1 - 3
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Reason for Sale Relocation.
Description Foursquare circa 1910 on 2.5 acres in highly visible four season chain-of-lakes location less than two miles from Lake Bellaire or the Grass River, just a few short minutes to world-famous Torch Lake, area golf courses and cross country ski and snowshoe trails; half an hour from Charlevoix, Gaylord, Boyne Resorts or Traverse City. Traditional decor with many original fixtures; each room in the house has hardwood floors and main floor offers heavy original oak trim and baseboards. Common areas include a guest dining room that seats eight for a plated breakfast, a guest parlor and immense wrap-around porch. Fieldstone basement with laundry and root cellar/storage.
Upgrades and improvements have been substantial; new porch, new guest parking area and brick walkway, new Bosch washer and dryer, new stove and dishwasher, new wireless internet, exterior paint, window shutters, upgraded electrical and plumbing and new basement insulation. New energy efficient entry doors, new guestroom window a/c units and new Pella windows upstairs.
Each of the 3 guestrooms features a queen bed, dresser, electric fireplace, summer a/c, color TV/VCR, premium cable and warm hardwood floors. Private Innkeepers living room/office off extremely large country kitchen with massive center island and built-ins. Plenty of room for expansion, any number of options for Innkeepers space.
This Inn for sale was a start-up six years ago; it has been smartly marketed with a highly ranked and easy to maintain website; listed in all the best directories, members of the Traverse City Convention & Visitors Bureau, and seen on hotels.com and expedia.com. $253,000 unfurnished or $265,000 completely furnished. This is the first time the Inn has been on the market and it's priced to sell quickly, leaving financial room for personalization, expansion and further improvements.
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