24007 Vashon Hwy SW
Vashon, WA 98070
The Burton Inn · Hospitality Property For Sale · 5,593 SF

For sale or lease with option to purchase, owner financing available: 3,363 sq ft well known Vashon Island 4 guest room Inn with water views, one scant block from two marinas. Includes full service restaurant space (including tables and about 45 chairs not shown in photos of dining room) and mostly equipped commercial kitchen ready to go. Plus a 3 bedroom house, 1,363 sq ft adjacent house, with 860 sq ft basement. The two buildings are on separate parcels but prefer to sell or lease as a package. After being in foreclosure and a receivership, the property is now for sale for cash or via owner financing or lease with option to purchase (with owner financing) to whoever offers the best combination of price, terms, financial ability to perform, management strength/experience to succeed, etc. Property was in pretty good shape a year ago, when the then owner developed health issues, then defaulted with lender, who only recently took back control. There has been some neglect of the landscape and general maintenance since the default occurred, which a few $10K in TLC can remedy. Nevertheless, the rooms operation ran profitably through mid-September, 2018 with strong occupancy of all rooms through the entire summer of 2018. Room rates in season were in the $180 to $220 range, depending on room size and view. Gross room revenue alone from the four guest rooms for the 12 months prior to mid-September closing of operations estimated at $100,000. Prior sales of the combined two properties were at $855K in 2016, $875K in 2006, $749,5000 in 2002. Details best discussed after you read the rest of this post and contact the poster. Numerous photos of its pre-default condition - only a year ago - available once we make contact. The property can quickly be brought back to its pre-default condition. First floor (1,828 sq ft) comprised of dining room (seats about 45), commercial kitchen, plus multi-purpose area. In addition there is a large outdoor deck (seats about 25) with water views for additional (seasonal) seating and about 7,000 sq ft terraced sunny garden area with stunning view of Mt. Rainer and Quartermaster Harbor. Interior and exterior tables and chairs included. Total site area: 22,500 square feet, or about 1/2 acre. Second floor (1,535 sq ft) comprised of 4 furnished guest rooms, each with private full bath. 2018 summer rates were about $180 and $220, for the smaller and larger rooms, respectively. Restaurant operated for 21 years as an island landmark eatery, from 1991 to 2012, then closed during economic downturn, with kitchen rented as a commissary kitchen during that time. Restaurant re-opened April, 2017 through February, 2018 and still equipped and functional and ready for its next incarnation. Guest room operation has been mostly continuous since 1991. In addition, there is a 3 bedroom, 1,363 sq ft adjacent house, with 860 sq ft basement, available as an operator or owner residence or rental. Available as a package of the Inn and 3 bedroom house next door for purchase for cash or on terms or lease with option to purchase. Terms and price negotiable and interrelated. All to be discussed as the first step before a site visit. This is a well known Island lodging operation, with some room and restaurant revenue history available. Located in historic downtown Burton, on main island bus line. Views of Quartermaster Harbor across the street. Much to discuss. Please respond with your name, phone number and/or email address, some description of your restaurant and/or lodging experience and financial capability, and we'll go from there. You may recognize this property but DO NOT VISIT PROPERTY or disturb occupants without an appointment with poster herein! You can expect an email response or phone call within hours.