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Chincoteague Inn
Price:
$3,600,000
[Currently Under Agreement]
Address :
4417 Deep Hole Road
Chincoteague, VA 23336
Excellent location in a destination resort market
Very strong NOI and Cash Flow margins
Ideal size and operating model for owner/ operator
On-site living quarters with three bedrooms and one bath
Offered at discount to replacement cost
Location/Market
Physical Plant
Financials
Located on a barrier island east of Virginia’s Delmarva Peninsula
Accomack County is home to 33,413 people
Close to Regional Demand Generators:
Wallops Research Park & Flight Facility
Annual Pony Penning & Firemen’s Carnival
Maui Jack’s Waterpark
Iron Pony Adventure Park
Museum of Chincoteague Island
Chincoteague National Wildlife Refuge
Assateague Island National Seashore
Assateague Island Lighthouse
70 Rooms
3 Stories, Exterior Corridor
Wood Frame Construction
Vinyl Siding Façade
Metal Roof
Gravel Parking Lot
Screened Pavilion with Kitchen Area Barbecue Grills
Seasonal Outdoor Pool
Volleyball, Badminton, & Corn Hole
Manager’s House with Three Bed-rooms and One Bathroom
Wireless Internet
Built in 1984
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Financials
2019
2020
2021
T-12Mos 10/22
Occupancy
46.80%
35.85%
44.93%
39.89%
Average Daily Rate
$75.32
$89.83
$101.35
$97.51
Room Revenue
$900,638
$825,076
$1,163,522
$993,736
Net Operating Income
$323,826
$285,806
$491,580
N/A
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!
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