Minnesota is the “Land of 10,000 Lakes,” and Duluth sits on the biggest lake of all, Lake Superior! The A.G. Thomson House Bed & Breakfast is a luxury Duluth inn for sale with seven guest rooms and baths in two buildings. The main house, built in 1909, houses four wonderful guest rooms, some with double whirlpool tubs, all with fireplaces. The large living room leads to a cozy sun room, and the dining room and well-appointed kitchen are all on the main floor.
The Carriage House, a more modern structure, has a massive suite on the ground floor including a wet bar, double whirlpool, fireplace, oversize bathroom, and private terrace. The second floor has two comfortable additional guest rooms.
The Duluth inn for sale enjoys a highly desirable location in the city. It is located in a lovely and quiet neighborhood within easy walking distance to the campus of the University of Minnesota Duluth with a student population of about 11,000. Not only are there events and activities tied to UMN, but the university is the prime source of staff for the inn.
Situated in the upscale Mansion District, a residential neighborhood high on a hill with views of Lake Superior, the Dutch Colonial inn sits on a dead-end street adjacent to a school, which lends a park like feel to that side of the property. Additional undeveloped lots behind and above the inn afford privacy and the potential for expansion.
The majority of the visitors to this Duluth inn for sale come from the “Twin Cities,” which are about 155 miles and less than 2 ½ hours’ drive. People visit Duluth for the variety of great restaurants, activities like hiking and biking in the many parks and natural areas, scenic drives, as well as architectural and engineering sites like the Aerial Lift Bridge, Enger Park Tower, and several museums.
A.G. Thomson House is kept in excellent condition and offers its guests a warm stay with multiple ways to enjoy the property. There are several outdoor “spaces” scattered around the lushly landscaped grounds, from the gazebo to benches placed in quiet corners to a hammock near the elaborate water feature.
A very desirable attribute of A.G. Thomson House is the 3 bedroom owner’s quarters on the third floor with large master bath, full kitchen, and private roof-top deck. There’s space to spread out and relax after a fulfilling day caring for the guests.
The business at this Duluth inn for sale is solid, with a gross revenue multiplier of 4.9 and a cap rate of nearly 9%, making this B&B very viable financially.
Minnesota broker of record is Port Cities Realty.