Opportunity is Knocking!
Property Description
Amazing opportunity to own a stunning Mansion in Traverse City and a 5 star Bed and Breakfast. The business was established in the 2001 and has been successfully run by the same owners since inception. The reviews of the Wellington Inn are impeccable, garnering a solid 4.8 stars on Trip Advisor with close to 500 reviews. The property features 9 rooms in the mansion, each with an ensuite, a 3rd floor ballroom, 2nd floor sitting room, large dining room, library and sitting room. Additionally there are two 2-bedroom apartments on the property and a couple of value add spaces that could be re-imagined as a spa, gym, or a tasting room to generate additional revenue.
The house is located one block off front Street, a shopping district with restaurants and other entertainment. It is an easy walk to all that downtown TC has to offer including the public beaches.
The current owners acquired the mansion in 1999 and restored it. It was built by one of the early lumbar barons in Traverse City and most of the original woodwork was restored and remains. This is a rare opportunity to acquire a piece of Traverse City's history with a successful business attached to it. The current owners are retiring but will be available for training and to answer questions.
The house was built in 1905. It is a neo-classical style and was restored in 1999
The house is located one block off front Street, a shopping district with restaurants and other entertainment. It is an easy walk to all that downtown TC has to offer including the public beaches.
The current owners acquired the mansion in 1999 and restored it. It was built by one of the early lumbar barons in Traverse City and most of the original woodwork was restored and remains. This is a rare opportunity to acquire a piece of Traverse City's history with a successful business attached to it. The current owners are retiring but will be available for training and to answer questions.
The house was built in 1905. It is a neo-classical style and was restored in 1999
About the Property
- Type
- Multi-Family
- Building Status
- Established
- Facilities & Assets
- All of the real property, the personal property including furniture, chatchkas, appliances, pots, pans, dishware, linens, the name, goodwill, SUP /license and non-compete
The Gross Revenue and NOI above are pro-forma. - Location Description
- Located in downtown Traverse City, three blocks from the water and an easy walk into the main shopping and dining district.
- Current and Prior Use
- The property was originally built as a single family home for a lumber baron and his family. The carriage house was actually a carriage house, the carriages and the horses were housed there. The 2 apartments are located in the original hay loft. It sat vacant for a few years, then was converted to 4 units then the current owners acquired it in 1999.
About the Sale
- Furniture, Fixings and Equipment
- Included in Asking Price
- Financing
- This property and business are best funded through an SBA loan and perhaps some inves
Listing Info
- ID:
- 2409417
- Listing Views:
- 144
Business Location
Listing ID: 2409417 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
