BOOK A VIEWING

Address:

103 E Albemarle St, Edenton NC 27932

List Price:

$2,499,000

Status:

Active

General Information

Type:

Bed/Breakfast

Secondary Type:

Food Service

Documents:

Restrictions:

Restrictions Rmks:

Listing Information

Trans Type:

For Sale

Sale/Lease Incl:

Building, Business, Equipment

In City:

Yes

Bldg Information

New Const:

No

Builder:

Year Built:

1902

Construction Type

Site Built

# of Bldgs:

5

# of Units:

5

# of Rentals:

20

# of Stories:

2

Square Footage

Total:

17,331

Min Sqft Avail:

16,000

Max Sqft Avail:

17,331

Min Lse$/Sqft:

$0.00

Max Lse$/Sqft:

$0.00

Additional Information

Prop Fin:

Conventional, Other, VA

Assumable:

Ownership:

Seller owned for at least one year

Special Conditions:

None

Publicly Maint Rd:

Yes

Remarks

Public Remarks:

There are B&B’s and Country Inns, and then there is the Inner Banks Inn. This Coastal Carolina B&B nestled in “one of America’s prettiest towns,” Edenton, North Carolina is a Select Registry Innn and known for its comfortable and diverse accommodations, award winning food, spectacular events & superb service.  The Inn features 20 guest rooms in four distinctively different houses; a Victorian mansion, Greek revival home, converted tobacco “Pack” barn and a coastal cottage. The popular dining venue, “The Table at Inner Banks” restaurant, located in the converted & expanded carriage house, is an award winning f&b operation with a profitable and flexible venue booking model and delivers food and beverage revenue that makes sense.

This exceptional offering includes:

  • Excellent financials
  • State of the art infrastructural systems including marketing and review tools
  • Great location
  • Select Registry Inn
  • On Site Venues, Restaurant and In Room Spa Services
  • Very private owner’s quarters options

This in-town property sits on rare acreage in the Historic District, an easy stroll from the charming shops and waterfront. Most of the 20 rooms and suites are above average size, and one suite affords the ultimate in comfort and luxury. There are spaces to refit for an additional luxury suite and two to three additional rooms for increased lodging revenue within the existing house footprint.

Coastal North Carolina has four distinct seasons of the year and the Inn has developed specific revenue niches for each with common areas and grounds providing a luxury and yet comfortable experience for the tourist and business travelers alike. More opportunity…the professional website and extensive social media followings are increasing its online bookings for even greater revenue streams.

When considering the purchase of a bed & breakfast, buyers are always interested in a strong business and this Inn’s story is impressive. In 2014 the inn was re branded and has significantly boosted its occupancy rate, ADR and Rev Par, a testament to the quality of the marketing and the staff who, with the owner, provide a wonderful experience for the inn’s guests. The benefit to an investor buyer is that the inn generates a solid income even with a full complement of staff. Currently there are no owner’s quarters, as the former owner’s quarters were converted to guest use in 2014, generating more than enough revenue to pay for comfortable off site housing. There is space in the Satterfield House, however, where new owner’s quarters could be created.

Sitting on almost two acres of land and a few blocks from enchanting shops and waterfront, all guest accommodations enjoy access to the amenities of the property including onsite dining, outdoor porches, extensive patio, fireside area, lawn, in room spa services and separate pet-friendly areas. The Table at Inner Banks offers fine and casual dining with menus and prices that appeal to both the world traveler and locals alike. Ranking in the upper 1% on TripAdvisor in the NC Region, the restaurant and Inn have both been featured in a variety of publications, television specials and online venues. Golf, soundside pool and an expansive waterfront events venue is available to guests as it is owned by the same individual.

From successful marketing to award winning food to diverse and flexible revenue streams, this 20 room Inn is an up and coming jewel that is gaining recognition and status amongst travelers, event planners and industry leaders.

The Inner Banks Inn is a perfect example of when an Inn’s numbers are progressively growing, the opportunity for the buyer seeking a quality property is met with a celebrated past and equally bright future. Are you its next owner?

Directions:

From Norfolk, Virginia (From the Airport)

  • Take 64 East to Exit 291-B (sign says 17 South to Elizabeth City).
  • Follow 17 through Elizabeth City, NC and through Hertford, NC.
  • The next town after Hertford is Edenton. Continue on 17 South to the Route 32 Exit.
  • At the exit, you will be turning left onto 32 South.
  • Proceed to the fourth traffic light, and turn right onto 32 South (Broad Street).
  • Continue 3 or 4 blocks and then watch for the Lords Proprietors’ Inn on your left.
  • Turn left onto East Albemarle Street

Full Listing on MLS