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Premier Property Profile
Cedar Grove Mansion Inn
Vicksburg, Mississippi

Price Reduced
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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 |
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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 |
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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 |
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| Cap Rate |
6.0% |
| GRM |
3.00 |
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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 Photo Gallery
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