The Grand Kerr House

Grand Rapids, Ohio
thegrandkerrhouse.com
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Property Type
Bed & Breakfast / Inn
Guest Rooms
4
Baths
3
Restaurant
No
Owners Quarters
Yes
Asking Price
$595,000

Occupancy Rate
20%
Average Daily Rate
$120
Gross Revenue
$30,000
Gross Revenue Multiplier
20

Property Overview

This immaculate well-maintained 5,000 square foot Queen Anne Home on one acre is listed on the National Register of Historic Buildings and remains virtually unchanged since it was built by the Kerr Family in the 1880’s. The home showcases 12-foot ceilings, 8-foot doors, 4 fireplaces, exquisite woodworking and original stained glass windows. Updates include new steel roof, gutters, drain tile system, 2 air handlers with high efficiency heat pumps, exterior paint, 4 rebuilt chimneys, refinished original floors, new carpeting in guest rooms, remodeled bathrooms, kitchen appliances, washer, dryer.


Property Description

The Grand Kerr House offers one first floor and four second floor guest rooms. The first floor guest room has a private bath with the home's original marble sink & copper soaking tub. The second floor guest rooms are approximately 225 square feet each with full closets and electric fireplaces. The second floor bathroom area has been extended to include 2 private lavatories, a vanity area, and a tiled walk-in shower room with heated floor, Kohler fixtures and a dressing area. In addition to the 4 guest rooms, there is an additional bedroom on the second floor, 2 servant rooms and a yoga loft.


Business Description

The Kerr House opened its doors as a private Health Retreat in 1980 and was known for over forty years as one of the top ten spas in the country. The Grand Kerr House opened as a B&B in 2016 and has been active for three years offering four guest rooms, spa services and yoga classes. Annual income in 2018 and 2019 averaged $30,000 with a 20% occupancy rate.


Reason for Selling

Owners are retiring.


Terms & Asking Price

Property listed for $595,000. Furnishings, website and professional services negotiable with sale.