Black Lantern Inn

Roanoke, Virginia

Asking Price: USD $795,000
Guest Rooms: 3    3
Owners Quarter: 4    1.5

Property Overview

The Black Lantern Inn at 1526 Franklin Road is located within the Historical Southwest neighborhood of the City of Roanoke, VA. The property is 0.175 acres and is zoned MX (mixed use). The adjacent lot at 1530 Franklin Road is 0.0555 acres and is zoned MX (mixed use). Both properties are included in the sale.

The Inn is located less than 10 miles from exit 143 off I-81, and 1 mile from the heart of historic downtown Roanoke. The iconic Roanoke Star at the top of Mill Mountain is 1.2 miles away, and the entrance to the Blue Ridge Parkway is another 2 miles (mile marker 121). The Roanoke River Greenway is 1/3 mile away, and one of the most popular hikes on the Appalachian Trail – McAfee Knob – is approximately ½ hour away.
The City of Roanoke is strategically located in the Roanoke Valley, surrounded with mountain ranges on both sides - the Appalachians to the west, and the Blue Ridge to the east - with the Roanoke River running down the middle. It is well known as an outdoor sports mecca, and also has an active arts and music scene.

Roanoke VA is a diverse and dynamic city nestled in the Blue Ridge Mountains, where you can enjoy scenic nature, rich culture, historic landmarks, and many entertainment venues. It is also a center of innovation with a thriving research center (Fralin Biomedical Research Institute), health provider (Carilion Clinic) and academic institution (Virginia Tech medical School) only minutes from the Inn. Greater Roanoke also boasts a fantastic collection of colleges and universities with 21 institutions of higher learning within a 60-mile radius.

The region is proud of awards and accolades for its quality of life, including the following: Mountain Biking Capital of the East Coast, Virginia Blue Ridge Twenty24 Olympic Cycling Team, Professional Hockey Team, and Best Trail Town by Blue Ridge Outdoor Magazine. The Inn is a walkable mile from the lively downtown with locally owned restaurants, bars, craft breweries, as well as arts and cultural attractions, such as museums, art galleries, and a historic farmers market. The famous Roanoke Star is an iconic symbol of Virginia's Blue Ridge and a must-see spot when visiting the region. The “Star” is visible from the Inn and only minutes away.

The Inn dates back to the early 1900’s, but was completely renovated in 2008, preserving its’ original architecture while adding modern conveniences such as central air conditioning. It was recognized by the City for Architectural Preservation Excellence. It has 4 bedrooms and 4 ½ bathrooms, 2 kitchens, laundry room, front and back porches, and a 2nd floor covered deck, totaling 2,720 sq ft. The owners occupy the 1st floor, with guests on the 2nd and 3rd floors. The Inn also has a full stand-up basement. The property outside features a private off-street parking lot with 6 designated parking spots, an outdoor covered brick patio, a firepit, gardens, outdoor bike wash and mature trees. The house has a Zestimate top range value of $565,000 as of April 10, 2024. It also includes an adjacent tree lined yard for future use valued at $110,000. The Inn is proud to be recognized as a Virginia Green Tourism Partner with one of the highlighted features being the gutters that drain underground to water a garden area.

About the Owner's Quarters

Living Room, Dining Room, Kitchen with 1/2 bath, Bedroom with Master Bath, Laundry Room

  • Is Historic Historic
  • Nearby Winery / Brewery Winery
  • Close to Fishing Fishing
  • Includes a Restaurant Golf
Business Description:

Listed for sale as is, at $795,000. Price includes the 15 year old business, real estate and assets, the adjacent lot, complete guest list (2,000+), website, marketing materials, menus, training, bookings through 2025, and #1 ranking on Google, TripAdvisor and The Inn profitably operates 210 days/yr by choice at 70% occupancy. New owners could easily increase sales and profitability by expanding the operating calendar. Reason for sale – owners looking at retirement options and relocating closer to family. Property can be seen by appointment only.

Terms of Sale:

Buyer's are required to provide a Statement of Net Worth. Standard conventional loan terms apply, with deposit required. Seller will pay 3% Buyer's Broker fee at closing.

Valuation & Mortgage Calculator:
30 Years Fixed
n/a % Interest
  • Loan Amount
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  • DSCR $0
  • Cap Rate $0
  • ROI $0
Listed By
Christopher Andrews (Owner)

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