Colonial Pines Inn Bed & Breakfast, Highlands NC

Description
Three rental rooms plus one rental suite in main building. One rental room plus a two-bedroom rental apartment with kitchen & deck in separate guest house building. All spaces have private baths. In addition, there is a large two-room owners' suite with porch and a basement bonus room & bath (for visiting relatives or children). Located on a lush acre+ hillside in-town with mountain view, city water & sewer, underground utilities, garage. A separate building lot is included. Prime property features lawns, large old trees and huge stands of old rhododendron. Walking distance to shops, restaurants, theater, nature areas, community center, special events. Highlands is an attractive village with a desirable pedestrian Main Street, cool summers, and a beautiful Leaf Season. See website for photos of all rental spaces. Miss Rebecca's Cottage, also shown on the website, is not included in the sale.
Business Information
Family home was converted into an Inn in 1961 and has been run continuously by three different owners. Present innkeepers have been owners since 1984. Season runs May through Nov with 60% occupancy rate. Off-season Dec - Apr could be built up with special events, if desired. Established business with good reputation and repeat customers. Live theater, craft fairs, chamber music, gourmet restaurants, boutique shopping, and a beautiful new arts complex attract an upscale group of visitors, and creates a high standard of living for local residents. The popularity of in-town Highlands has created a demand for properties close to Main Street. All adjacent neighborhood properties have been renovated or developed recently. This property could be desirable for a developer wishing to renovate the existing house & guest house, plus build a new separate house on the extra building lot. Furnishings negotiable.
Price: $1,200,000
Rooms: 6
Baths: 7
Square Feet: 4,000
Restaurant: No
Year Built: 1961
Occupancy: 60%%
Gross Earnings: $107,743
Gross per room: $17957
ADR: $145.
Contact Information
Location:  Highlands, NC
Phone: (828) 526-2060
Email: sleeptight@colonialpinesinn.com
Website: www.colonialpinesinn.com
Reason for selling
 Present owners have operated the Inn Since 1984 and are ready to retire to their separate nearby cottage.