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Wellington Inn Bed & Breakfast 230 Wellington St 11 Room Bed and Breakfast Traverse City, MI 49686 $4,249,500 ($386,318/Room) 10.55% Cap Rate
INVESTMENT HIGHLIGHTS
- Once in a Lifetime chance to own a Legacy Property and 5-star business in Traverse City Michigan
- Each room has an ensuite, all of them named as an homage to the history of the city
- The Mansion was meticulously restored and updated complete with central air conditioning and it has been lovingly maintained
EXECUTIVE SUMMARY
Fully updated and restored legacy property and associated business available. Not only does the B&B boast 9 guest rooms and 2
apartments, it has a ballroom which has been used as event space to host wedding receptions and the like and could potentially be converted to additional guest rooms as it hasa a small kitchen and multiple bathrooms in addition to 2 guest rooms on that floor. The Inn has a tea room license which allows the hosts to be open to serve lunch and/or snacks to guest and non-guests alike in the elegant wood paneled main floor dining room, where guests can enjoy a sumptuous breakfast promptly at 9am every morning.
The mansion features hot water boiler heat and central air-conditioning. Each room has an electric fireplace tastefully decorated and located for ambiance and use as an additional/private heat source. Some of the rooms feature jetted tubs. There are two 2-bedroom apartments, located over the carriage house. Each apartment has a full kitchen as well as a washer and dryer. The apartments are perfect for a longer visit. Additional revenue could be generated by renting the apartments off season on a 5 or 6 month basis and by converting the lower level of the carriage house, (where the ponies used to reside), into event space or more units.
The property is being sold with much of the decor items so generating revenue through locals looking for a unique spot to host a holiday party in the winter months will likely provide another stream of revenue, too.
Proforma available upon request. Cap rate and NOI above are pro-forma numbers
apartments, it has a ballroom which has been used as event space to host wedding receptions and the like and could potentially be converted to additional guest rooms as it hasa a small kitchen and multiple bathrooms in addition to 2 guest rooms on that floor. The Inn has a tea room license which allows the hosts to be open to serve lunch and/or snacks to guest and non-guests alike in the elegant wood paneled main floor dining room, where guests can enjoy a sumptuous breakfast promptly at 9am every morning.
The mansion features hot water boiler heat and central air-conditioning. Each room has an electric fireplace tastefully decorated and located for ambiance and use as an additional/private heat source. Some of the rooms feature jetted tubs. There are two 2-bedroom apartments, located over the carriage house. Each apartment has a full kitchen as well as a washer and dryer. The apartments are perfect for a longer visit. Additional revenue could be generated by renting the apartments off season on a 5 or 6 month basis and by converting the lower level of the carriage house, (where the ponies used to reside), into event space or more units.
The property is being sold with much of the decor items so generating revenue through locals looking for a unique spot to host a holiday party in the winter months will likely provide another stream of revenue, too.
Proforma available upon request. Cap rate and NOI above are pro-forma numbers
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $4,249,500 | Lot Size | 0.50 AC |
| Price Per Room | $386,318 | Building Size | 15,918 SF |
| Sale Type | Investment | No. Rooms | 11 |
| Cap Rate | 10.55% | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1905/2002 |
| Property Subtype | Bed and Breakfast | Parking Ratio | 0.38/1,000 SF |
| Building Class | B | Corridor | Interior |
| Zoning | R2 - The property has an R2 zoning however, the property is classed as commercial upgraded and it operates with a SUP | ||
| Price | $4,249,500 |
| Price Per Room | $386,318 |
| Sale Type | Investment |
| Cap Rate | 10.55% |
| Property Type | Hospitality |
| Property Subtype | Bed and Breakfast |
| Building Class | B |
| Lot Size | 0.50 AC |
| Building Size | 15,918 SF |
| No. Rooms | 11 |
| No. Stories | 3 |
| Year Built/Renovated | 1905/2002 |
| Parking Ratio | 0.38/1,000 SF |
| Corridor | Interior |
| Zoning | R2 - The property has an R2 zoning however, the property is classed as commercial upgraded and it operates with a SUP |
AMENITIES
- Meeting Event Space
- Wedding Venue
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $425.00 | - |
| Guest Room | 9 | $315.00 | - |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (88)
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Wellington Inn Bed & Breakfast | 230 Wellington St
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