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Cedar Grove Mansion Inn
Vicksburg, Mississippi

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Cedar Grove Mansion Inn

Property Description: This Antebellum Mansion is on the National Register of Historic Places. Voted "Best Antebellum Home" Vicksburg. There are five acres with a Carriage House that has eight suites, five cottages with nine suites, a part of the Old Chapel with three suites, a poolside guest house with two guest rooms, and thirteen guest rooms/suites in the Mansion. The fine dining restaurant is also in the Main House.

Rooms 33   Restaurant Yes
Baths 36   Owners Quarters Yes

Business Description: Established as a Historic Tour House in 1975, adding the B&B in 1980 and adding a restaurant in 1993. A wedding and events venue upon acquiring the adjacent Old Chapel in 1998. Cedar Grove Mansion is one of the largest and most popular inns in the South with consistent gross annual sales in the $1.5 million range.

Occupancy 55%
ADR $120
Gross Revenue $1,400,000
Revenue/Room $25,000
Cedar Grove Mansion Inn
Cedar Grove Mansion Inn

Reason For Selling: Absentee owner's daughter is full charge manager. She recently married and wishes to relocate and start a family. The owners have other sucessful business interests that require their attention.

Terms & Asking Price: Buyer may qualify after down payment to assume existing long term first mortgage of $2.9 million.

Asking Price $3,500,000 Help
Cap Rate 6.0%
GRM 3.00
Listing Agent:
Ted Mackey, Consultant
109 Harbor Town Blvd.
Memphis, Tennessee 38103
310-908-0300 Bus
TedMackey@peoplepc.com

For more information go to: http://www.cedargroveinn.com

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Cedar Grove Mansion Inn
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