Resort at the White and North Fork Rivers

Norfork, AR (Baxter County)

Seller Financing Available
Front of Lodge
Contact Seller

Asking Price: $1,850,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $102,000

Inventory: $15,000

Real Estate: $1,700,000

Established: 2001

Resort at the White and North Fork Rivers

Save Print Share Valuation Report

Business Description

Resort and B&B is Primed and Ready for Next Level

The most recognized High-End River Resort (River Ridge Inn) on the Norfork and White River system. Also available, the Residence that is established as a B&B (River's Edge). Ideal for early retirement couple, or anyone wishing to alter one's life styles and invest in their future while providing an attractive income. The resort attracts a clientele that appreciates the luxury of the accommodations, the location of the resort and the beauty of the grounds. The property, due to it's location and quality, is staged for a rapid increase in value. Property along the North Fork River sold in 2008 for $1,000 - $1,500 per linear foot of river frontage. Lots with less than 150' of frontage sold for $225,000, and that was with no utilities and lying in the flood plain. The river properties along the White and Norfork Rivers have recovered from the negative impact of the "Great Recession of 2009". The values have increased at the rate of real estate in this section of the country, however, the added value of water front property has yet to see the annual increases as seen before 2009. (approx 15% annually) This makes for tremendous potential in increased value of river-front properties. It is simply because they aren't making any more water front property and little is available, especially on the North Fork River.

The buyer of this resort will own --

1. A 5,000 sq ft Lodge, two cottages, 2 chalets, pavilion, private dock, greenhouse, 2 storage sheds, 2 two car garages, 2 shops and an exercise room that has a huge cedar sauna, a bath/change room, laundry, wader room and an ice machine. All of this sits on 2 Acres with 200' of North Fork River Frontage. The Lodge has 6 bedroom with 6 baths, two kitchens, a great room with dining area, sun-room, deck, lounge with large group dining area, walkout patio, and supply room with main laundry. The four rental units have great versatility. One is a one room honeymooner type cottage, another a two bedroom unit popular among fishermen and couples with kids, one chalet with a King Master Suite with bath and a loft with queen and full bath. The Riverside Chalet has a huge deck overlooking the river. The Gardenside Chalet has 2 bedrooms, 2 baths, massive loft with another full bath, and, another over sized deck. All of the units have a charcoal and a gas grill. The Riverside has a shop and storage area below. The Gardenside, below, has a wader room, a 6 person sauna with bath and change room, guest laundry, and ice machine. Other amenities are a pavilion, gazebo with hot-tub, private dock and greenhouse.

Offered in addition to resort........

2. A 5,000 sq ft residence has been registered as a Doing Business As (DBA) Bed and Breakfast. It is a DBA of River Ridge Inn, Inc. It has 2 large, high quality and spacious suites to go along with a gourmet kitchen that opens up to the living and dining area with three sided fireplace between the living area and conversation area. It has a Master Suite with fireplace, Office (or 4th bedroom), 4 bedrooms, 4 baths (one with 4 person Steam Room), large pantry, laundry room, garage, and a utility room housing the new geothermal system. There is a tremendous deck running the width of the home overlooking the islands, shoals and rapids of this portion of the North Fork River. Terrific area to have guests or private parties. The residence has a gazebo style hot tub, multi septic line system, its own propane generator, up to date security system and well house. The residence/B&B sits on 2 tracts totaling 4 acres. There is 1,958' of river frontage, 1,287' of it is in a Conservation Easement established by the owner. In total, 14 acres and a half mile of river frontage was placed in a perpetual conversation easement.

3. There is an additional adjacent 2 acres m/l zoned commercial for future expansion. It is some of the only commercial property left in the town of Norfork, and is currently available for purcha

Attached Documents


Detailed Information

Location:
Norfork, AR
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
N/A
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Purchase the resort and you will have over 2 acres and 200' of river frontage with a private dock, pavilion, 4 upscale rental units and a 5,000 sq ft Lodge. Purchase the Residence with the resort and it will add 4 acres of land with another 1,958' of river frontage. All units have either been built or remodeled since 2005. Resort comes fully furnished and the River's Edge B&B furnishings are negotiable. All equipment, supplies, most tooling and a huge inventory of spare parts are included in the pricing. Truly a turn key operation. (Home Based)
Competition:
Location, Location, Location! Norfork, AR is a small community that exists, in part, because of the tremendous reputation for some of the best trout fishing in the U.S. With over 90 miles of trout water and a world famous trout stream for kids under 16 (Dry Run Creek), there is competition. River Ridge Inn enjoys a relationship with all of its competition. The Inn is the only resort that caters to Fly Fishermen. The Fly Fishing Academy is DBA of River Ridge Inn, Inc. No one is better at corporate outings and family functions than River Ridge Inn.
Growth & Expansion:
River Ridge Inn grew from a 3 bedroom B&B to what it is today. One of the most important rules in developing a business, and selling it, is to allow for the next owners to expand. We have done that. Arkansas Properties, owner of all the property being offered, also owns 2 commercial acres adjacent to the resort. This area can be purchased for the expansion plans of the new owners. It is ideally suited for new businesses such as a guide and fly shop, restaurant, or virtually any business that supports the guests of your resort and those of others.
Financing:
Financials available with NDA Partial financing possible
Support & Training:
Sellers will entertain staying on for a period of time that will ease the transition of the business over to the buyers. Maintenance and Housekeeping personnel have indicated that they may be available to stay on in current capacities. Computer programming controls the reservation and credit card processing. It is very easy to grasp and is very well supported.
Reason for Selling:
Mission accomplished, we retired once to build this, time for full retirement
Home-Based:
This business is Home-Based
Business Website:
http://www.riverridgeinn.com
Contact Seller

Business Location


Contact the Seller

Contact Seller Loading

Business Listed By:
James Smith

Show Phone Number

Listing Statistics

Unlock

Demographic Information

Unlock

Metro Area Scores

Unlock


Ad#:1416613 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Expedia CruiseShipCenters

Franchise Opportunity In AR
Cash Required: 100000