86 Main St Ludlow, VT 05149

Property Details for 86 Main St

Year built

1890

Lot size

0.44 lot acres

Property size

6,069 SF

Property type

Commercial real estate

Description

This exceptional 6,069 sq ft, Class A, Victorian Inn, built in 1890 and extensively renovated in 2020, presents a lucrative investment opportunity. Located on a 0.44-acre lot in downtown Ludlow, Vermont (05149), this property boasts 9 guest rooms, each with a private bath, and features gas fireplaces or Vermont cast-iron stoves in six rooms, and spa tubs in two. The inn includes a separate two-bedroom, two-bathroom owner's house, providing a distinct separation between personal and business life. The main building features two buildings and three stories, with common areas, breakfast/dining rooms, a commercial kitchen with a walk-in cooler and dishwashing area, and a butler's pantry. Recent upgrades include a full sprinkler system, new fire alarm system, boiler, water heater, heat-pump system for guest rooms and dining area, commercial dishwasher, dryers, and freezer. Most bathrooms have been recently updated. The inn benefits from a strong Net Operating Income (NOI) of $164,000, representing a 9.7% cap rate, and enjoys high ratings on major booking platforms. Its prime location near Okemo Mountain and other attractions ensures year-round occupancy and diverse revenue streams. The permitted zoning is Village. This turnkey operation offers significant potential for growth and is priced at $1,690,000 ($278.46/sq ft). The current occupancy rate is 35%. The property is part of a collaborative network of four inns in Southern Vermont, offering a unique walking experience for guests during the warmer months.