Owner Financing is Available
Business for Sale Overview:
Historic 23 room hotel and restaurant, well-known in the mountains of Western North Carolina featuring traditional, family-style dining. Additionally, this 2.9 acre property includes 2 apartments, gift shop and 330 seat restaurant on the best corner of town with easy access to interstate and highway traffic. The restaurant easily accommodates civic groups and meetings as well as individual diners. Times have dictated that improvements such as a fine dining / club area may be added with great results! Licenses include beer & wine and "brown bagging." Overall ambiance is provided by charming architecture and supported by antique furnishings and extensive doll-collection. (Think of rocking chairs on the porch, incredible comfort food - fried chicken, ham, country biscuits, chicken 'n dumplings, topped off with great desserts, and cool, quiet, restful evenings. A great location, suitable for families, groups, or those seeking a romantic get-away!). Current seasonal operations could be expanded to year-round to provide service to locals, tourists and support visitor to high-volume, nearby Indian-operated casino. Financing for a qualified buyer can be negotiated with bank and owner participating. 2005 appraisal is available; bank will require new appraisal. 2006 revenues exceeding $1 million are more typical of historical operations. A proforma for a new "bistro" indicates a very positive impact on cash flow.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Popular historic inn and restaurant in the beautiful mountains of North Carolina with an operating history since the 1880's. Excellent condition with Victorian style furnishings throughout the public areas, 23 rooms, and 330-seat restaurant, which includes meeting rooms. Owners residence and ample parking are included in this offering! Designated as "National Historic Landmark," the business is well-known as a fine bed & breakfast in popular tourist town, which is near a high-volume casino area.
Market Competition and Expansion:
Since the 1800's, this has been the prime family restaurant and tourism anchor for this popular destination. Has beer/wine license and "brown-bag" license, the facility is poised to grow and with minor modifications could add a 100 plus seat bistro to add to night life and revenues! While currently operated on an 8 month, seasonal basis, there is support for a year-round business with corresponding revenue gains.
Growth and Expansion: Currently operated on a seasonal basis, business could support full-12 month operations and add significantly to revenues! Ample room to modify current restaurant rooms to a "bistro/fine dining concept" to yield increased business.
Reason for Selling:
Owner's retirement after 36 years!
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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