The Beach Spa Bed and Breakfast is a sleek, 8 guest room Virginia Beach inn for sale that can meet the needs of almost anyone looking to own and operate a financially viable B&B! This luxury bed and breakfast is centrally located to the Virginia Beach resort area just 3 blocks from the Atlantic Ocean and a short drive to Norfolk.
The style of the inn, created out of a greatly enlarged 1937 beach cottage, is sleek and contemporary, with clean lines, modern colors and furnishings, and bathrooms that may include hydro body massage, steamer, rainfall shower, Travertine tile, or jetted tub. Many guests choose their room based on the bath features they most enjoy! And all guests can enjoy custom massages in the third floor massage room surrounded by natural light. All guest rooms have HDTV’s with cable, hardwired Internet hookups and WIFI.
The inn, enlarged and upgraded in 2007, is in excellent condition and a model of efficiency with mini-splits in almost all rooms, tankless natural gas on demand hot water, full sprinkler system, and ADA compliance. The compact kitchen is well equipped with a five burner gas range with oven, fire suppression hood, three bay sink, 48″ side-by-side refrigerator, and dishwasher. An available half bath and guest pantry with refrigerator and microwave are available for guests’ convenience. A year round heated outdoor spa pool with waterfall enhances the guest experience with rejuvenating relaxation.
One of the best features of Beach Spa Bed & Breakfast is the owner’s quarters. With a private outside 2nd floor entrance, the main living room has a comfortable living area, full kitchen with over-sized granite island, private covered balcony/deck, a spacious bedroom and full bath.
Virginia Beach is an oceanfront city that has undergone enormous transformation in the past few years. Today, there are countless restaurants, new hotels and resorts, shopping and, of course, the beach! The city is home to Oceana Naval Air Station, the east coast home of the U.S. Navy’s fighter-attack jet fleet, whose presence is observed regularly over the inn. The base is located in the heart of Virginia Beach and is the hub of activity vital to projecting the nation’s air power. Not every inn can lay claim to that! Nor can many say they are one of only a small handful of B&B’s in this great city, making it a destination of choice for leisure and business travelers.
Priced very competitively at $1,350,000, Beach Spa Bed & Breakfast represents one of the best values on the national market today with a gross revenue multiplier (GRM) below 4, a cap rate above 11%, and superior debt coverage ratio.
Beach Spa Bed & Breakfast has been SOLD! The B&B Team represented the buyers and the sellers.
