86 Main St - Hospitality FOR SALE


Ludlow, VT 05149
$1,690,000 USD
860-559-9334
86 Main St, Ludlow, VT for Sale
$1,690,000 USD
Hospitality - FOR SALE
1/30
null | 9.7% Cap Rate

86 Main St
Ludlow, VT 05149


HIGHLIGHTS

  • • Strong Net Operating Income (NOI)
  • • Diversified Revenue Streams
  • • Prime Location
  • • Turnkey Condition
  • • Potential for Growth

OVERVIEW

The current owners brought this 1890 Victorian gem of a Bed and Breakfast built by Governor William Stickney back to life. Entering the Inn, you will be awed by the woodwork, the staircase and the fireplaces in the foyer and parlor. Charme and elegance are visible throughout the building with its antique furnishings. Guests are highly appreciative of the inn as the ratings on booking.com (9.7/10), Google (5/5), Yelp (5/5), and Tripadvisor (5/5) show. Part of the downtown area of Ludlow and about one mile away from the entrance road to Okemo Mountain ski area the inn sees year-round business with skiers, hikers, bicyclists, boaters, and guests enjoying the beauty of the Green Mountain State. Located in downtown, this inn is in walking distance to restaurants and shops and allows its guests to take advantage of all the amenities the town of Ludlow has to offer. The inn is part of a collaboration between four inns in southern Vermont that offers a walking experience to guests between the months of May and October. The first floor has the common areas and breakfast/dining rooms, able to accommodate all guests from the 9 guest rooms. You also find a commercial kitchen with walk-in cooler and a dishwashing kitchen. The butler’s pantry allows to store the beautiful ‘china’ used to serve guests. The 9 guest rooms, all differently and tastefully decorated, can be found on the second and third floor of the building. Each room has their private bath. Gas fireplaces or Vermont cast-iron stoves can be found in 6 of the guest rooms; Spa tubs in two of the rooms. The property includes a separate owners/innkeepers two bedroom / two-bathroom house right behind the inn, allowing separation of private and business life. Over the last few years, the inn has seen a lot of renovations and updates, including a full sprinkler system, a new fire alarm system, a new boiler, a new water heater, a new heat-pump system for all guest rooms and the breakfast/dining area, a new commercial dishwasher, new driers, and a new freezer. Most bathrooms were redone and updated. The owners are ready to move on to their next chapter in life and are looking for the next chaperone of the building. • Strong Net Operating Income (NOI): Generating a steady income, the inn’s NOI reflects consistent performance, making it an attractive option for investors seeking dependable cash flow. The inn’s current NOI aligns with an 8% return, positioning it well within market expectations. • Diversified Revenue Streams: In addition to room revenue, the inn benefits from additional income sources such as event hosting, food and beverage services, and other guest amenities, providing multiple revenue channels. • Prime Location: Situated in a popular tourist destination with year-round attractions, making it resilient to economic fluctuations and seasonal changes. • Turnkey Condition: The inn is in excellent condition with recent renovations, reducing the need for immediate capital expenditures. Investors can enjoy a hassle-free acquisition with minimal upfront costs and maintenance. • Potential for Growth: With opportunities to enhance room rates, increase occupancy, or expand services, there is significant potential to grow the property's income and boost returns over time. This opportunity offers a rare combination of immediate income, long-term growth, and a favorable cap rate, making it ideal for investors looking for a profitable and stable hospitality asset.

FOR SALE DETAILS

PRICE

$1,690,000 USD

PRICE/SF

$213 USD /SF

# OF ROOMS

9

PRICE/ROOM

$187,778 {currency}

CAP RATE

9.7%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Governor's Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1890

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,909 SF

ZONING

Village

APN/PARCEL ID

363-112-11596

ASK ABOUT THIS PROPERTY

John NapierTPW Real EstateMore Info
860-559-9334

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John NapierTPW Real EstateMore Info
860-559-9334

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