The Ashley and Cannonboro Inns have been SOLD! They are two Charleston SC inns located less than a block from each other in the Historic District of Charleston, SC, one of America’s premier destinations. With a total of 16 guest rooms (8 in each property), the inn provides comfortable lodging in an attractive, walkable neighborhood that has a true neighborhood feel.
At the northern edge of the Historic District, the inns are just a few blocks from the Visitor’s Center and the downtown shopping district. Importantly, they are on the edge of the sprawling Medical University of South Carolina (MUSC), an 85 acre facility with 1,400 full time faculty members and several schools covering a range of medical disciplines. This is an important current and future source of business. They are also close to wonderful restaurants and other attractions in Charleston.
The Ashley Inn, one of the Charleston SC inns for sale, is across the street from the historic (1776) St. Luke’s Chapel. Built around 1832, the Ashley Inn offers its guests superb comfort in an ambience of authenticity. The original plaster crown moldings, plaster medallions, and heart pine flooring offer architectural details that make this Charleston bed and breakfast for sale an excellent opportunity.
The Cannonboro Inn, just a half block from the Ashley, was built in 1853 and today retains all the character of Charleston. Offering guests the use of wonderful piazzas, the eight guest rooms are varied in size and amenities. Both properties run at high occupancy rates thanks to their location near MUSC. Both properties also have the intimate small gardens and fountains that Charleston homes are known for!
While both properties have the same owner, they are operated as separate legal entities. Both inns enjoy solid occupancy and ADR with upward potential, and both are beautifully maintained. In addition to the two Charleston SC inns for sale, the inns manage a nearby guest house owned by MUSC. This produces an attractive addition to cash flow and is under contract with the University until 2018.
Each B&B has an owner’s quarters suite, with kitchen, which are currently offered to guests as luxury accommodations (part of the 16 total rooms). A new owner could continue to operate as the current owner does, or they could take over one of the spacious suites for their personal use and reside at the property.
To read more about Charleston and the Inns visit our blog.
The Ashley and Cannonboro Inns were offered as a package for $3,150,000 and delivered an attractive return on investment. For details, contact Peter Scherman of The B&B Team, Inn Consultants LLC. 434-286-4600.
