615 Laurel St - Hospitality FOR SALE


Lee, MA 01238
$3,995,000 USD
802-380-2550
615 Laurel St, Lee, MA for Sale
$3,995,000 USD
Hospitality - FOR SALE
1/37
null | Request Cap Rate

615 Laurel St
Lee, MA 01238


HIGHLIGHTS

  • Spectacular setting on a westerly facing cliff overlooking pristine Laurel Lake with 500’ of private lake frontage with dock.
  • Prime location in the heart of the Berkshires
  • State-of-the-Art HVAC systems
  • Extensive outdoor seating areas including balconies, porches and a new 5000 sq. ft. terrace with 4 inground firepits overlooking the lake and spectac
  • Oasis Bar & Grill, an outdoor dining and live music venue.

OVERVIEW

The Lake House Inn was operated as a modest Bed & Breakfast Inn for decades before undergoing an extensive “stem to stern” renovation and restoration in 2015 – 16 by previous owners. That renovation set the stage for the current owners to completely refurnish the inn in 2022 through early 2023 and reposition it in the market as a high end, luxury inn in 2023. Current owners capitalized on the fabulous, lakefront setting by adding the Oasis Bar & Grill, an outdoor dining and live music venue with a 5000 sq. ft. terrace overlooking the lake and spectacular sunsets. The Oasis Bar & Grill is a smash hit with locals and tourists alike. Annual gross lodging sales under previous management were $300,000 to $500,000. Annualized gross lodging sales for 11 months in 2023 since being relaunched February 1, 2023 were $806,192. YTD gross room sales as of June 2024 were $500,000. The business is on track to gross $1.m in lodging sales in 2024. The Oasis Bar & Grill is a seasonal, outdoor restaurant that was operated Thursday – Saturday from May through the summer and early fall of 2023. Gross food and beverage sales if open five days a week seasonally are projected to gross $500,000. The owners chose not to open Oasis Bar and Grill in 2024 due to family commitments on their part.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$334 USD /SF

# OF ROOMS

14

PRICE/ROOM

$285,357 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lakehouse Inn

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Hotel

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

A

YEAR BUILT

1903

PARKING SPACES

25

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

RB

APN/PARCEL ID

LEEE-000007-000000-000000-000110-000110

ASK ABOUT THIS PROPERTY

Pamela J LongEast Coast Inn BrokersMore Info
802-380-2550

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Pamela J LongEast Coast Inn BrokersMore Info
802-380-2550

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.