$1,150,000
$1,500,000
23.3%For more information regarding the value of a property, please contact us for a free consultation.
5 Baths
2,168 SqFt
SOLD DATE : 07/15/2021
Key Details
Sold Price $1,150,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,168 sqft
Price per Sqft $530
MLS Listing ID 3661285
Sold Date 07/15/21
Year Built 2005
Lot Size 11.440 Acres
Acres 11.44
Lot Dimensions 422573
Property Description
This established nightly rental business boasts a cap rate of 11.67% cap rate and has 5 adorable log cabins on 11.44 acres. All cabins have 1 bedroom and 1 bath, a fireplace, and a gas grill, Private deck with hot tub allows guests to soak in the mountain views. Nestled in the mountains of Madison County, these meticulously-maintained cabins are located a short drive to Marshall, Mars Hill, Asheville, Weaverville, and Tennessee. Visitors can enjoy solitude and hike trails in nearby Pisgah National Forest and Appalachian Trail. This is a rare turnkey business opportunity with 15 years of documented 90%+ occupancy (2019 was 94% and 2020 was 98%; Jan and Feb 2021 100% booked). Website and all future bookings convey. Survey 2020; new home inspections for each cabin in Dec 2019; septic tanks pumped 2019 (each unit has own septic system). Come to Hot Springs to start living your short-term rental dream today! Copy/paste the following link for bird's eye view: https://youtu.be/c-27s0zbZRc
Location
State NC
County Madison
Building/Complex Name Hot Springs Log Cabins
Interior
Heating Electric, Other
Cooling Other
Flooring Wood
Exterior
Utilities Available Electricity Available, Septic Tank, Telephone On-Site, Well
Waterfront Description None
Roof Type Metal
Building
Building Description Wood,Other, Hotel/Motel
Story 1
Foundation Block, Pier & Beam
Structure Type Wood,Other
New Construction false
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Subject to Lease, None
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Bought with Clarissa Marshall • EXP Realty LLC
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "