Front Street Inn

Wilmington, North Carolina
www.frontstreetinn.com

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Property Type
Bed & Breakfast / Inn
Guest Rooms
12
Baths
12
Restaurant
No
Owners Quarters
Yes
Asking Price
$2,700,000

Occupancy Rate
51%
Average Daily Rate
$230
Gross Revenue
$381,000
Gross Revenue Multiplier
7.09

Property Overview

The Front Street Inn is an historic Bed and Breakfast/Boutique Hotel located in downtown Wilmington. There are 12 wonderfully appointed suites each with their own bath. The Inn includes a 9,500 sq. ft. main building and a 1,925 sq. ft. owner's quarters on a separate lot behind the business.


Property Description

The business portion of the Front Street Inn includes a 9,500 sq. ft. brick building with decks, patios and below ground game room. There is a commercial kitchen, bar and lounge, laundry room, massage studio and storage. The owner's quarters is a 1,925 sq. ft., 2 bedroom/2 bath single family home located on a separate residential lot behind the main building.


Business Description

The Front Street Inn is a full service lodging establishment catering to both the business and leisure traveler. The wedding industry in downtown Wilmington has blossomed and the Front Street Inn is well equipped to continue hosting weddings and other group events.


Reason for Selling

After 50 successful years in the hospitality industry it's time for retirement.


Terms & Asking Price

The Front Street Inn (business) land, building and goodwill - $2,300,000. The owner's quarters - $400,000. Cash, or buyer financing.