Historic Inn and Restaurant For Sale

Hospitality for Sale
Catylist Listing ID: 30340175
Property Subtypes: Bed & Breakfast, Inn, Other
Number of Units: 1 Units
Building Size (RSF): 7,270 SF
Gross Building Area: See Agent
Sale Price: $4,022,914
Unit Price: $4,022,914 Per Unit
Property Use Type: Investment, Business
Building Name: Old Village Post House Inn and Restaurant
Name of Establishment: Old Village Post House Inn and Restaurant
Sale Terms: Other
Cap Rate: 5.8%
Last Updated: 11/14/2018

Overview / Comments

The property is a fixture and a landmark of the community. The real estate is irreplaceable. The Old Village Post House Inn and Restaurant was built in 1888 and is situated on a hard corner parcel of 0.13 acres at the prestigious corner of Pitt and Venning Streets in the coveted and historic Old Village community of Mount Pleasant which is the fourth largest city in the state. All proper licensing and zoning to operate as an inn and restaurant are current and convey. With continued use, new Town of Mt. Pleasant impact fees are not applicable. This grand property consists of approximately 3,910 sf of restaurant and approximately 3,360 sf of a 6 room inn. This property has been carefully restored, most recently in 2015, with renovations, cosmetic upgrades and a new roof. All of the new FF&E and new kitchen equipment will convey with the sale. In operation as an inn and restaurant since 2015 by current owners, online reviews are highly favorable.

TURN-KEY OPPORTUNITY

The opportunity provides a new or seasoned operator a stress-free transition to a secure lifestyle which benefits from proven systems and processes in place, providing a financially stable business operation. Inn staff are trained and willing to stay with new owners. Old Village Post House Inn and Restaurant offers a new proprietor a distinct advantage to being the only B&B located in the Old Village.

The property is being sold fully furnished and the inn and restaurant operation is TURN-KEY READY. The price includes all accoutrements needed to operate the business, This is a pride of ownership asset with high barriers of entry to the market. Financial operating data is available upon request and return of signed Confidentiality and Registration Agreement.

This is the sale of an existing business along with the real estate. Showings are by appointment only. Please do not approach the employees for information on the sale. Please do not attempt to tour the property on your own. Please call the listing agent, Edward Robinson, to set up all showing appointments.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 42 - Mt.Pleasant South of IOP Connector
Tax ID/APN: 532-01-00-079
Zoning: CN - Neighborhood Commercial District
Retail Clientele: Family, Traveler, Tourist, Other
Property Visibility: Excellent
Area Description: The Old Village is the heart of one of the fastest growing communities on this side of the country. Within a 15 minute drive time, there is a population base of over 82,000 people with an average annual household income of $108,000 and a median age of 36.7 years old. Coleman Boulevard is the community's Main Street and is currently undergoing a full redevelopment and has a traffic count of 38,300 vehicles per day. The property is the anchor of the Pitt Street retail district with heavy foot and bike traffic.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1888
Year Renovated: 2015

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,635 32,117 102,458
Median Age: 41.85 42.57 37.62
Households: 2,934 14,524 43,687
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