Boutique Resort on the Mendocino Coast $2,950,000

$ 300,000 Stable NOI (EBITA) annually. Spectacular Pacific Coast Northern California property offered for around 3X Gross! 10 guest suite lodge, a 44-seat fine dining restaurant optional, a wine bar, full service spa, detached small owner's apartment, another detached building presently used for offices/housing, plus storage and work areas.
Some guest rooms have distant ocean views. The inn is located along the popular Mendocino Coast wine country, in a wooded park like parcel on approximately 6 acres, set well back from Highway One. Minutes from the historic Mendocino Village, surrounded by State Parks, and a short drive from Anderson Valley wineries. The inn produced over $ 900,000 in gross revenue ($ 700,000 was room revenue) and over $ 300,000 in net income (gross income less ordinary expense, before debt expense) in 2013. The owner will carry-back a 2nd deed note for a well-qualified buyer with a down payment of $ 400,000. Combined, the note plus a first deed (SBA or conventional) loan is estimated to have a total annual debt service of less than $ 150,000. For more detailed information, a copy of the sales prospectus and arrange a showing, please call Greg Koert, Broker at (530) 470-0287 or email: greg_koert@yahoo.com

Details

  • Built in 1988
  • 25 years as B&B
  • Last renovation in 2009
  • 10 Guest Rooms
  • 12 Guest Bathrooms
  • Lot size: 6 acres
  • 99 Parking Spots
  • Has owner's quarters
  • Has a restaraunt
  • SPA on site
  • $2,950,000
  • 87.60% annual. occ. rate
  • $201.00 avg daily rate
  • $900,000 gross revenue
  • $700,000 room revenue
  • $125,000 spa revenue

Listing Agent

Sector Connect
PO Box 82111
Mendocino, CA 95456

Phone: 9496326645
email: intake@sectorconnect.com
NonDisclosure Agreement
FULL DETAILS

Location

Boutique Inn Mendocino Coast, CA 95456

Photos (click to enlarge)

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