Quick Tips
Asking Price: $1,450,000
Location: Maryland
Acreage: 2.65
12 Guestrooms & 12 Guestbaths
Features: Financially-Viable
Located within short drive of 4 major metropolitan marketing areas, this commercially zoned, historic property opened as a B & B in 2000, has 12 rooms in the main house, including oversized suites, all with private baths and fireplaces. A carriage house on-site, with 4 car garage storage on the lower level, also has two income-producing apartments above.
Located in the heart of the marketing areas of NYC, Philadelphia, Wilmington, Newark, Baltimore and Washington, DC., this inn attracts mid-week business travelers as well as weekend leisure guests. Only a couple of miles off the I-95 corridor, Elk Forge B & B boasts an occupancy rate consistently in the low 30′s, with an Average Daily Rate of almost $150. The income from the two apartments, currently occupied by long term guests who have been in the apartments since they opened two years ago, is in addition to the revenue of the inn.
A separately deeded Cape Cod style home, on 2.65 acres, with a finished barn ideal for events and meetings, is adjacent to the inn property and is priced separately.
Within a few miles of the University of Delaware, and with the expected rapid growth in the area due to the Base Realignment activity of Aberdeen Proving Grounds, the future of the inn’s additional growth potential is optimistic. Events on the beautiful grounds and The Conservatory add to the revenue of the inn’s guest room occupancy.
Adjacent to state forest, the inn has quiet walking trails through the woods, a trail to creekside for relaxing nature walks, and stunning landscaping to complete the idylic setting.
Financial Data:
Properly priced turnkey at $1,450,000
Gross Revenue Multiplier: 4.74
Price per Guest Room: $120,833
Cap Rate: 8.13%
Contact: Marilyn & Scott Bushnell
The B&B Team®, Bushnell & Bushnell Services, Inc.
410-422-5083(Scott’s cell) or
410-422-0013 (Marilyn’s cell)
Innkeeper Poem
E is for Entrepreneur
W is for Winning