Inn at Craig Place $1,500,000

Thinking about buying a B&B? It just may be the time for you to finally take that bold step, and we have the perfect place for you - where both the winters and the people are warm and friendly.

As the #1 B&B in San Antonio for the past five years (as per Trip Advisor), the Inn at Craig Place enjoys year-round strong occupancy, which includes many in-town guests looking for a weekend getaway “staycation.” This popular, historic 1891 inn is situated in the heart of San Antonio, Texas, and is centrally located a mile north of the famous Riverwalk and within a mile of Brackenridge Park/ Golf Course, San Pedro Springs Park, Trinity University, Incarnate Word University, and close to many other of the city’s oldest attractions. Since the economy remains strong in Texas, San Antonio is booming and growing in both new business and population while tourists/visitors continue to flood into the center of this vibrant city. The city continues to add new attractions, restaurants and bike lanes to the downtown/midtown area each year. With four active military bases around the city and the increasing population, there is always a need for the perfect spot for a romantic getaway and a beautiful, intimate wedding venue like this one. All in all, these demographics make downtown SA the perfect place to own a B&B.

And the best part for the innkeeper? The beautiful, newly renovated carriage house/innkeepers’ quarters with a private garage and private laundry facility. Enjoy the privacy you deserve in the up-to-date, modern 1200 sq. foot carriage house with corner jacuzzi tub/shower, beamed cathedral ceiling in the master bedroom, designer kitchen with granite countertop, and a separate living/dining area with patio. The second bedroom has a built-in desk and extensive built-in shelving, so it can double as an additional office area. (The inn has its own office as well.) The third bedroom in the carriage house has a private bath with walk-in double shower, separate living area with an electric fireplace and a private entrance and balcony, suitable for additional family members (as the current owners utilized the space for their daughters) or as a separate revenue-generating room. This separate area of the carriage house was renovated in late 2013 in preparation for the space to become a 6th room for the inn and includes a private hot tub.

The inn and carriage house sit on 1/3 acre. Garden arches lead into a beautiful, “secret” garden on the east side of the main house, the site of the outdoor weddings. A gated area leads into the east end of the carriage house and up to the private balcony. The property boasts towering trees and lush landscaping with a newly paved drive that curves around the back to the lighted parking area.

The main house is also in pristine condition and was originally constructed with elements that reflect the Victorian era (as seen in its curved porches) and blended with Arts and Crafts elements as seen in its fabulous woodworking, oak wainscoting and inlaid designs in its hardwood floors. Towering 11 foot ceilings in every room add to the majestic feel. The original fireplaces have inlaid tile, each room with its own design. The parlor and dining room fireplaces have been converted to gas while all other fireplaces in the guest rooms are now electric for year-round ambiance. The four-walled dining room mural is attributed to Julian Onderdonk, a famous Texas artist of the early 1900s.

Pass from the dining room through the original swinging door, and you enter the office area (an unusual extra for a B&B) which initially served as the breakfast room, and contains the original mosaic tile floor and large windows. This space is roomy enough to allow guests to have a seat in comfortable wingback chairs while checking in and discussing area maps and activities. Outside of the office is the kitchen, which is quite large for a home of its era. Renovated in the mid-80s, but classically designed with cherry cabinets and beautiful tumbled marble counters, the kitchen was further expanded in 2001 to allow for extra storage, a second refrigerator, and a powder room across from the office. A laundry room was later added at the base of the butler’s stairway for easy access to kitchen and rooms. Upstairs boasts an eclectic library, which opens onto a beautiful, curved balcony where guests love to have breakfast or just relax with a glass of wine. Renovations, restorations and repairs on the inn have been done as needed throughout the decades so that everything is always in tip-top shape and nothing is left in disrepair, allowing for an easy, seamless transition for a new owner to step in and generate revenue.

Innkeepers will also love the convenience of being one mile from the grocery store, ten minutes from the airport and less than ten minutes from upscale shopping and dining areas as well as being close to major wholesale clubs, a big contrast to rural B&B’s. And most importantly, you don’t have to renovate and build a B&B business from scratch. This turnkey business comes with strong advanced bookings for both rooms and weddings, so you will start right out generating revenue. Even during the latest recession, the Inn at Craig Place has increased in revenue year over year. In addition to the increasing revenue from its five rooms (all with private baths) the inn hosts intimate weddings, which currently boost annual revenue by an additional 90%. There are also opportunities for additional wedding revenue which the current owners opted not to pursue.

This turnkey sale includes furniture, fixtures, linens, cookware, serve-ware, flatware, wedding inventory, new web site (completed in Nov. 2013), business logo and all imprinted inventory (champagne glasses, wine glasses, mugs, robes), customer base, and goodwill. Current owners are willing to mentor the new owners, if requested, as they plan to remain in San Antonio near their children/grandchildren. More detailed financial information available for qualified and pre-approved buyers only.

Details

  • Built in 1891
  • Historic Registry
  • 15 years as B&B
  • Last renovation in 2014
  • For Sale By Owner
  • 6 Guest Rooms
  • 6 Guest Bathrooms
  • Lot size: 0.33 acres
  • 6 Parking Spots
  • Has owner's quarters
  • $1,500,000
  • For Sale By Owner
  • 58% annual. occ. rate
  • $162.00 avg daily rate
  • $350,000 gross revenue
  • $180,000 room revenue

Listing Agent

Kelly and Gregg Alba
117 West Craig Place
San Antonio, 78212

Phone: +1-877-427-2447
email: stay@craigplace.com


Location

117 West Craig Place San Antonio, TX 78212

Photos (click to enlarge)

Street view of the Inn
Bathroom in the owners'/innkeepers' quarters of the carriage house. Renovated in 2012. Black granite counter and dark wood cabinets. Heated towel rack. Reflected in the mirror is the corner whirlpool tub/shower surround. Shower has double heads. Kitchen in the innkeeper's quarters of the carriage house.KraftMaid cream cabinets with glazing and granite countertops. New stainless steel Kitchen Aid dishwasher. Black and stainless oven.
Inn kitchen (main guest house). View of the commercial storage area for serving ware and ingredients. Kitchen has large island with prep sink, tumbled marble countertops and JENN-AIR large 4 burner gas cooktop plus gas grill/griddle. Inn kitchen (main house). 11 ft. ceilings.  Traditional cherry cabinets, tumbled marble counters and island/breakfast bar, KitchenAid Oven, beautifully built in where old wood burning stove used to be, large Jenn-Air gas cooktop with built in gas grill/griddle. Prep sink and large double sink with new faucet. Two refrigerators.
Inn office - original mosaic tile floor, large windows on two sides, French doors on other two sides, filing cabinet, desk and wing back chairs. Exterior of the carriage house (owners'/innkeepers' quarters). Left end is the new addition built in 2008. Master bedroom upstairs, living/dining area downstairs. Door leads into kitchen area. Spiral staircase up to second floor bedrooms and bathroom. On the right, the garage door, second living area above garage and private balcony on far right. Top window is the loft bedroom with walk-in shower and built in desk/cabinets/large closet with built in shelves.

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