The Olde Mill Inn Bed and Breakfast

Cumberland Gap, Tennessee
www.oldemillinnbnb.com
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Property Type
Bed & Breakfast / Inn
Guest Rooms
8
Baths
8
Restaurant
No
Owners Quarters
Yes
Asking Price
$949,000

Occupancy Rate
57%
Average Daily Rate
$145
Gross Revenue
$236,000
Gross Revenue Multiplier
4

Property Overview

This successful and growing B&B is a one-of-a-kind opportunity. Situated in beautiful NE Tennessee and nestled among the Cumberland Gap National Historical Park, The Olde Mill is an ideally located, well-improved, and profitable turn-key operation. This historic home and cabin did more than survive 2020 – it thrived. Year 2020 occupancy was up 22%. The Inn’s location at the corner of TN, KY, and VA, proximity to National and State parks nearby, and engagement with Lincoln Memorial University all make this property ideally positioned for continued business growth and success.


Property Description

The Olde Mill Inn consists of an 1890s main house and rustic 1700s cabin (reconstructed on site as an addition). The Inn has 8 well-appointed guest rooms, each with a private en-suite bathroom and sleeps 22-25. An attached 550 sq. ft. studio apartment serves as either owner’s quarters or a rental unit. The common living and dining room area boasts an 18-person hand-made plank table plus additional seating options. Major improvements made in the last 4 years include studio redesign and remodel, new roof, new appliances, new heat pump, new 8th room, remodeled laundry area, and 1 remodeled guest room.


Business Description

The Olde Mill Inn B&B is a profitable turnkey operation. The purchase of this fully-furnished 8-room Inn, studio apartment, and all related business items and connections also comes with dedicated staff, a proven track record of operational excellence, and exceptional guest reviews. The Inn currently serves breakfast daily to its guests and routinely hosts private lunches and dinners. Expansion to include full restaurant service and on-site events is an immediate possibility. Also included in the sale is a commitment to long-term mentoring and support from the current owners.


Reason for Selling

To dedicate more time to preserving, protecting, and promoting the town of Cumberland Gap, TN.


Terms & Asking Price

Full payment required. No owner-financing available. Detailed financial info available with NDA.