Amazing Lake Resort / Marina /Restaurant on Priest Lake

Coolin, ID (Bonner County)

Seller Financing Available
Amazing Resort / Amazing investment opportunity

Asking Price:$2,400,000

Cash Flow:$258,889

Gross Revenue:$1,191,786

EBITDA:N/A

FF&E:$150,000

Inventory:$30,000*

Real Estate:$3,400,000

Established:1940

*not included in asking price.

Amazing Lake Resort / Marina /Restaurant on Priest Lake

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Business Description

Amazing Resort / Amazing Investment Opportunity

Cavanaugh's Resort and Restaurant is a very high quality resort located on Priest Lake Idaho about 80 miles north of Spokane. Remodeled in 2010, it is the "go to" spot on this lake which is a major vacation destination and / or second home for many that live in the Pacific Northwest.

It was established in 1940 but the current owner has spent a significant investment remodeling the entire resort to make it one of the nicest if not the best resorts on this lake, considered the Crown Jewel of the area.

The real estate alone is appraised at over $3.4 million. This is a great investment!

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
N/A
Employees:
10+
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Cavanaugh's Resort and Restaurant is a high quality resort and marina located on Priest Lake in North Idaho. It is 80 miles north of Spokane. The main building is 10,199 square feet that includes 3 high quality condominiums,a full service restaurant / bar, business office and general store. The resort also includes the 24 slip marina with a total of 30 boat parking spaces for the use of the restaurant and condos. Cavanaugh's has 46 feet of pristine sandy beach / lakefront and 220 feet of common area beach front. In addition, this sale includes a separate cabin adjacent to the resort. It is a modern cabin that has 1942 square feet and is currently being rented out on a weekly basis. The cabin can be lived in by the new owners or it can be put into the rental pool.
Competition:
There are a number of resorts on the lake but this restaurant / bar and lodging facility is considered the best on the lake by most.
Growth & Expansion:
Room for growth. Specifics can be discussed with serious buyers.
Financing:
Negotiable
Support & Training:
Owner will provide transitional support in order to facilitate a smooth transfer of ownership.
Reason for Selling:
Starting New Business in food industry
Business Website:
http://www.cavbay.com

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Jamey Davis

Business Listed By:
Jamey Davis

Business Sales Northwest

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