Whitegate Inn and Cottages

Asheville, North Carolina
www.whitegate.net
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Property Type
Bed & Breakfast / Inn
Guest Rooms
11
Baths
11
Restaurant
No
Owners Quarters
Yes
Asking Price
$2,595,000

Occupancy Rate
65%
Average Daily Rate
$268
Gross Revenue
NA
Gross Revenue Multiplier
NA

Property Overview

This extraordinary Inn has 11 guest rooms and is a AAA 4-Diamond, Select Registry property. The main house has 5 guest rooms in addition to 3 cottages on site. It is the closest B&B to Downtown Asheville, walking distance to fabulous restaurants and shopping. There is a commercial size greenhouse on the property that could be converted to a wedding venue or remove for another cottage.


Property Description

The Inn and Cottages are in excellent condition with no deferred maintenance. The gardens and 3 waterfalls enhance the property. There is ample parking for all guests, owners and staff. The owners' quarters are on the 3rd floor with 2 bedrooms, 2 baths, great room, kitchen and dining area, a wonderful retreat. The 2-story Carriage House has 3 luxury suites, exercise room and sauna. The 1905 bungalow boasts 1 100 sq.ft., 2 bedroom suite, a 650 sq.ft. 1 bedroom suite, both with full kitchens. The quaint guest cottage has a 1 bedroom luxury suite with fireplace, 2 person Jacuzzi and a porch.


Business Description

This is a financially viable Inn, information by request of a qualified buyer.


Reason for Selling

Retire, travel, enjoy life.


Terms & Asking Price

Cash, conventional financing as well as the possibility of some owner financing.