Please contact John Eccleston, Owner/Innkeeper for more information at 800-584-0753 or firstname.lastname@example.org and visit our website at www.aldenhouse.com.
Additional financial and occupancy information available upon receipt of our non-disclosure agreement. The Inn is currently listed as For Sale by Owner. A local Real Estate Agent has been retained to construct/review purchase offers. A local Real Estate Attorney is available for closing and title insurance.
Agents representing buyers are encouraged to contact us.
Can I get financing?
Susquehanna Bank can finance the Inn with a 20% down payment at around 5% mortgage rate (as of Aug 2013). This puts your monthly payment in the range of $4750 per month. This fits well within the Inn's current income. First year equity would be about $21500.
What is your ADR (Average Daily Rate)?
For 2012 our ADR was $125 per room night. For 2013 our ADR is up to $130 per room night.
If we purchase the Inn, where would we live?
Previous owners have lived in the Alethea Suite which provides easy access to the laundry and storage areas in the basement. The Inn is zoned so that the owners may live within one mile. You can live on site or in town and commute.
What is the price of the Inn based on?
The price is based on our efforts to provide the next owners with an 8-9% return on their investment.
Why should we buy the Inn now?
Unlike residential real estate, purchasing a business and commercial property is based on revenue. Now that the effects of the recession are waning in this industry, we are seeing an increase in business over the last few years.
I do not know how to run an Inn, will training be included in the sale?
Two (5) hour days of training are included in the sale. All aspects will be covered including meal preparation, housekeeping, guest management, bookkeeping spreadsheets, reservations and marketing. Additional support is available after the sale at a pre-arranged rate.
If I am interested in the Inn, what should I do next?
We would recommend a tour of the Inn. If you wish to continue with the purchase process, we would ask you to sign a non-disclosure agreement. At that time you will be provided with a brochure with additional information.
This is a For Sale By Owner listing, how do I know it is legitimate?
We have retained a licensed real-estate broker to manage all the paperwork of the sale and a real estate attorney to provide the closing services. Both are well known in the community and have outstanding reputations.