84 Oakland Rd
Asheville, NC 28801
North Lodge On Oakland Bed & Breakfast · Hospitality Property For Sale · 7,000 SF

In the heart of Asheville, North Carolina, is a superior opportunity to own a financially viable Bed and Breakfast Inn, within a one mile radius of all the major attractions, such as the Biltmore Estate, River Arts District, Downtown Asheville, breweries, and the finest restaurants in the area. Built in 1904, the North Lodge on Oakland is a beautifully restored, top-rated Inn located in a quiet residential neighborhood, surrounded by mature trees and lush gardens. The Inn offers six beautifully designed guest rooms, spanning three floors, all with en-suite baths and modern amenities. Guests enter the historic lobby, with original fireplace and hardwood floors, from the covered portico. The formal dining room, with seating for 10, a guest services area with a secondary dining option, and enclosed porch with stone walls, provides relaxing moments for the guests. Just beyond the dining room is a uniquely, large farm kitchen with a center island, eating area, all updated appliances and a half bath. A bonus feature of the Inn is the main floor owner’s retreat with 2 bedrooms, 2 baths, large office space with built-ins, a sitting area, and walk-in closet. A private gated entry allows access to the owner’s quarters from the 2 car garage. . From an investment perspective, the Inn is a highly profitable turn-key business, which can be run as a couple, or with an assistant innkeeper while the other partner works an outside job. With a three year occupancy rate of over 75% and gross revenue over $317,000, the Inn operates with a profit margin of 50%. The cap rate of 11% is attractive for a year-round Bed and Breakfast business in Asheville. Since Asheville is not issuing any new B&B licenses in the area, the North Lodge is a wonderful opportunity to own a successful Inn in one of the top travel destinations in the U.S. Features: • Rated #1 in Asheville on Booking.com three years in a row with 9.7 rating • Completely updated (electrical, plumbing, etc.) • Building is 7177 sq. ft. with walk out basement, tons of built in storage • Lot is .84 acres; 9 off street parking spaces, 2 car garage • New appliances, new hot water heater • Central heat and air on each floor and in owner’s quarters • Highly ranked on all booking sites, excellent health department rating. • Turn-key business with all equipment and furnishings included