Historic Washington, DC Hotel/B&B w/Property - Gem!

Montgomery County, MD

Historic Washington, DC Hotel/B&B  w/Property - Gem!

Asking Price:$2,900,000

Cash Flow:$170,000

Gross Revenue:$450,000

EBITDA:N/A

FF&E:N/A

Inventory:$100,000*

Real Estate:N/A

Established:1977

*not included in asking price.

Historic Washington, DC Hotel/B&B w/Property - Gem!

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Business Description

Quaint historic 12 guestroom hotel/bed and breakfast in Washington, DC for sale with property.

The property was built in 1910 and features brick construction with wood trim and an elegant stone terrace. It is situated near a very affluent and bustling part of town within short walk to a major thoroughfare that runs in and out of Washington, DC.

There are 12 unique guestrooms on four floors as well as twelve bathrooms. Ten of the guestrooms have private bathrooms while two of the smaller guestrooms share a hallway bathroom. The main floor of the house includes a large kitchen, living room, dining room and foyer which serves as the guest's common areas. The property underwent a number of renovations in 2011 and 2012 including renovating 6 of the 12 bathrooms, repainting all guestrooms, replacing brick patio and walkway and re-doing some of the wood floors. A brand new water heater was installed in 2014.

This hotel presents an excellent value-add opportunity for an investor to acquire a popular historic B & B and take advantage of re-development or alternate use opportunities. Located less than 5 miles from the National Mall, The Smithsonian, The Washington Monument, White House, Capital and the Lincoln Memorial. Also near several major universities and corporations.

With gross revenues of over $450K and a $170K+ net, there is plenty room for improvement and increased market share. The current owner/operator occupies two of the guestrooms, one of which is a suite and includes a small kitchen. Due to the owner living on-site the Hotel is only producing income off of 10 of the 12 guestrooms creating immediate upside for a new owner to boost revenue by utilizing all 12 rooms for guests.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building Sq. Ft.:
N/A
Employees:
2
Facilities:
Historic 4 story building with 12 BR/12/BA built in 1910.
Competition:
Bustling tourist and transit markets. Just needs an aggressive marketing campaign to capitalize on the abundant growing opportunities.
Growth & Expansion:
Utilize all guestrooms and book further in advance through creative marketing plan.
Support & Training:
Owner will stay on to train for an agreed upon period of time.
Reason for Selling:
Owner is retiring

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Winston Thomas, CEO

Business Listed By:
Winston Thomas, CEO

T-GLOBAL GrOUP/Beltway Business Brokerage

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