Firehouse Inn

Rutherfordton, North Carolina
www.thefirehouseinn.com

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Property Type
Bed & Breakfast / Inn
Guest Rooms
7
Baths
7
Restaurant
No
Owners Quarters
No
Asking Price
$979,000

Occupancy Rate
60%
Average Daily Rate
$121
Gross Revenue
$152,000
Gross Revenue Multiplier
6

Property Overview

The Firehouse Inn originally built in 1925 as the City Hall and fire station for the City of Rutherfordton. The extremely well constructed building has been totally renovated and currently operated as an 7 room Bed & Breakfast with interior and exterior event spaces.


Property Description

Two story, historic concrete and masonry building provides very comfortable accommodations in center of county seat. Rooms have central air conditioning and heating. Very spacious common area is regularly rented for Christmas parties and meeting In addition, the current retail space could be used as a great restaurant, wine bar, artist studio or art gallery.


Business Description

Due to the current owners' commitments, new ownership would benefit from current guests and repeat midweek business travelers, while a new marketing plan focusing on the growth of nearby visitors and support providers to the Tyron International Equestrian Center that current Owners don't have time to implement, would garner increased revenue.


Reason for Selling

Sellers want to concentrate on other business and full time job.


Terms & Asking Price

Cash or conventional financing. Sellers will lease back retail space three years at $1,500/month.