Roanoke Boutique Hotel

Roanoke, Virginia
Add to Favorites
950,000
Asking Price
3
Guest Rooms
3
Baths

Property Overview

Featured in Southern Living and the Washington Post as one of Roanoke's most unique properties, it boasts positive year round income for a solo or couple operator. The perfect size for "Lock and Leave" freedom, its efficient design, complete renovation, and urban property size is essential for owners who don't want the expense of staff. Current owner enjoys a profitable business and downtime to surf. Just a few miles from the Blue Ridge Parkway with its 15 million visitors, steps from Downtown Roanoke, and around the corner from Black Dog Salvage, which draws thousands of visitors each year.


Property Description

1890
Year Built
4,000
Sq Ft
No Restaurant
Owners Quarters

Built in 1890, this structural brick home has been completely remodeled to be energy efficient. LED lighting, spray foam insulation throughout, new windows, tankless water heating, new metal roof and guttering, dual HVAC. A low-maintenance historic home. Roanoke welcomes millions of travelers each year because of our vicinity to the Blue Ridge Parkway, Carvin's Cove MTB trail system, Roanoke River Greenway, Virginia Tech and Appalachian Trail. This inn is located in Historic Old Southwest Roanoke, just a few blocks west of city center and Amtrak. Four miles from Roanoke Regional Airport.


Business Summary

40%
Occupancy Rate
$30,000
Revenue Per Room
$250
Average Daily Rate
$90,000
Gross Revenue
300000 x
Gross Revenue Mulitplier

Revenues averaging over $8,000 per month in 2022, even with 8 weeks of travel. Will be sold turnkey with furnishings, appliances, smart TVs, linens, etc. to ensure new owner continues revenue flow seamlessly. Current owner will remain in area for awhile after the sale to help with training and transition. Roanoke has a strong SBA office and small business community. The area's business and healthcare sector are growing each year, increasing real estate values. The Downtown area is enjoying a renaissance of activity, business and restaurant scene and is often compared to Asheville, NC. Tax abatement is in place until 2032.


Reason for Selling

Current owner is moving out of state.


Location

Mortgage Calculator

Inn Aquisition
Purchase Price
$
 
Improvements Required
$
 
Total Acquisition Cost
$
 
Buyer Equity
$
Closing Costs
$
Loan Amount
$
 
Financing Terms
Mortgage Interest Rate
%
Length of Mortgage/Years
Estimated Payments
Monthly Principal + Interest Payment
$
 
Annual Payment
$