The Cedars

Davidson, North Carolina
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Property Type
Bed & Breakfast / Inn
Guest Rooms
4
Baths
3
Restaurant
No
Owners Quarters
Yes
Asking Price
$870,000

Occupancy Rate
34%
Average Daily Rate
$148
Gross Revenue
$70,000
Gross Revenue Multiplier
100

Property Overview

The Cedars Bed & Breakfast is the ONLY B&B in the thriving college town of Davidson, NC! Only 1 mile from downtown Davidson, it provides a beautiful setting only a 5-7 minute walk to Davidson College. The Cedars is at the entrance to the lovely and very walkable St. Alban's neighborhood. The home features 4 bedrooms & great interior/exterior spaces. The house was originally built in 1916, but has undergone 2 significant renovations. The property is in excellent condition & has received great care. In its 4.5 years of operation it has attracted 1,120 distinct customers.


Property Description

The four rooms range in rates from $125 to $170 per night. The Cedars is currently a "Lifestyle" B&B. This great property in the prestigious town of Davidson could become a financially viable B&B. The owner's quarters features a family room, large chef's kitchen, sun room, master suite & laundry. Office space also available.


Business Description

The Cedars had an average occupancy rate of 34% for 2018. Comparable sales analysis is available for the lovely property which is just under 4000 sq ft. Sales figures, inventory & furnishing valuations are available. Property is zoned Residential and allowable for a Bed & Breakfast. Other information is available upon requests (e-mail or phone) to the listing agents. Best showing times are between 10 am to 3 pm daily. A licensed broker must be at all showings.


Reason for Selling

The current owners have done a wonderful job developing the business, but are now ready to retire.


Terms & Asking Price