Shore Acres Inn and Restaurant

North Hero Island, Vermont
www.shoreacres.com
Add to Favorites
Property Type
Bed & Breakfast / Inn
Guest Rooms
23
Baths
25
Restaurant
Yes
Owners Quarters
Yes
Asking Price
$2,950,000

Occupancy Rate
NA%
Average Daily Rate
$208
Gross Revenue
$1,200,000
Gross Revenue Multiplier
2

Property Overview

Twenty-three lake view rooms, 82-seat lake view restaurant, and forty-five acres located on the shores of Lake Champlain, North Hero, Vermont. Several recreational amenities including Har-Tru tennis courts, kayaks, event barn, pitch and putt golf, horseshoes, and shuffleboard. Three bedroom owners' home located on the grounds.


Property Description

Together with the event barn, the grounds could be used for stunning tented weddings. Commercial kitchen could easily support event driven food production. Extensive landscaping and lake frontage create an unparalleled sense of place at this property. Forty plus seasonal, part time, staff members are drawn from the local community.


Business Description

This is a seasonal business that generates 1.2 million in gross revenues between April and Thanksgiving. Restaurant and bar represents 66% and rooms represent 44% of revenues. Profitable business with an NOI that supports the price.


Reason for Selling

Innkeepers have operated this inn for the past thirty five years, and they are ready to retire.


Terms & Asking Price

Conventional bank financing.