Old Mulberry Inn
Jefferson, TX
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Blueprinted to vintage B&B perfection in 1997! Ten guest room Greek Revival, stylized after the northern Louisiana plantation homesteads of 19th century, plus 3/2 bedroom/bath and living area/porch Innkeeper{s quarters. Main house is 5,500 sq ft with 5 guest rooms and owner{s quarters, complimented by two private cottages. One three bedroom 1,100 sf, and one two bedroom, 700 sf cottage opened in 2006 after total refurbishment. Situated in town on 1.4 acres. Off street paved parking, plus three car owner{s garage. Listed turnkey.
Located in one of State{s primary B&B destinations. Three dozen operating B&B{s. This offering{s gross sales in top 5. Great exposure on city{s Park Square, where several major events transpire. Property has established wedding gazebo and multiple interior common areas that have hosted a steady stream of small wedding/reception functions. The city is very proactive with a plethora of annual events to bring in visitors requiring overnight stays. City is overwhelmingly lodging friendly. Major industry in this quaint East Texas town.
The highest guest room inventory, contemporary B&B, with the most spacious innkeeper's quarters in this highly desirable lodging market. Large kitchen conducive to televised cooking presentations. Some of the rooms boast the most current competitive bathing amenities, dimming chandeliers, double showers, garden tubs, whirlpool tubs. New owners could convert 10 guest rooms to 11 if only one bedroom/bath is necessary for living quarters. Main house built and cottages redone to specifically serve as B&B. Inventory of FFE and survey available.
Financial performance 2015, both gross room sales and NOI were up over fiscal 2014. Annual gross room sales for 2015 were up +$26,162 over fiscal 2014. Net Operating Income annual 2014 up 40.3% over 2012-2103 annual average. CAP rate 2015: 9.45%.
Situated in this established B&B/Historic Hotel destination. Draws from Dallas Forth Worth, Tyler, Longview, Texarkana, Louisiana, Houston and internationally. City of Jefferson in partnership with the Army Corps of Engineers have completed, the end of 2013, the restoration of the natural wetlands along the banks of the Cypress Bayou to its natural state. Visitors should be able to walk along historic banks. New boat ramps are being installed and an amphitheater has been built.
Property Details- 10 Guest Rooms
- 10 Guest Room Baths
- Has Owner's Quarters
- Built in 1997
- Last Renovated in 1997
- Opened in 1997
- Building is 7,400 SQFT
- Lot is 1.4 Acres
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