THE Business for Sale Marketplace

Get 15% cash-on-cash return while owning a piece of Asheville's history. This business was started in 1929 and has been in full operational since then. It consists of 18 unique antique log cabins, the Bear Lodge (4 bedrooms 2 bath log home built in 1986) and a laundry facility. "Thunder Road" a 1951 movie with Robert Mitchum filmed on location.
For the past six years the current owners have been putting the earnings from this business back into maintenance and improvements. Years of neglect have been addressed. 2008 was the best year on and 2009 is current 8.3% YTD about 2008 levels.
Current business model is based upon enjoyment and not maximizing profits. Owner’s shuts the property down for 2 months each year for vacation, focus on multiple day reservation with little emphasis placed on drive by traffic. No set office hours and majority of reservations made either on-line or by remote phone. Rental packages are left outside for customers. Occupancy of 37% could go to 50%+.
Based on a 20% down payment, this business will currently returns 14% cash-on-cash in the first year and a projected 10 year return average annual return of 27% cash-on-cash. Total return after 10 years will average 77% annually. This assumes the occupancy will remain at 37%.
The price includes7,146 sq. ft. of log cabins space plus a one car garage, laundry facility, woodworking shop, and two outside storage rooms. Restaurant and side single family home show on tax map is NOT included in price, but are available.
Check out our web site at www.cabinlodging.com or the Bear Lodge at www.vrbo.com/240353.