InnShopper > Inns for Sale > Rhode Island > Newport > Ocean Romance Dockside Bed & Breakfast Yacht

Ocean Romance Dockside Bed & Breakfast Yacht


Newport, RI   Offered for sale at $995,000
 


REDUCED BELOW FAIR MARKET VALUE FROM $995,000 To $795,000! This is truly the most outstanding and best available business opportunity to purchase a successful, one of a kind, award-winning, top-rated "5 STAR" furnished bed and breakfast business in New England. Presently rated as the # 1 "B & B" and hotel in the Newport area on Booking.com with 9.6 rating. The OCEAN ROMANCE yacht, a licensed hotel, is the ONLY "5 STAR" rated "Bed and Breakfast" in the Newport area. Also rated as the #1 LOCATION and the # 1 BREAKFAST based upon GUESTS' reviews!Priced to sell as a "turn key" package for a discounted price of $795,000! Commercial loans are available through www.InnFinancing.com to purchase bed & breakfasts.

Location! Location! Location! Situated in the historic tourist destination of Newport, Rhode Island, the Ocean Romance dockside bed and breakfast yacht is within walking distance to downtown Newport's restaurants, bars, shopping and countless attractions. The Ocean Romance yacht, a licensed hotel which opened in 2012, is a well-established, viable, successful, "turn key" operating dockside bed and breakfast business with proven marketing in place. This classic 80' Bertram cockpit motor yacht is a five (5) stateroom (each with ensuite bathroom) vessel afloat in Newport Harbor at Goat Island Marina just 100 yards from famous wedding venues such as the Hyatt Regency, Belle Mer and Regatta Place! It is ideal for a "liveaboard" couple or for partners to operate this thriving hospitality business.

Guests prepay by credit card or check to stay on the Ocean Romance dockside bed and breakfast yacht! Approximately $135,000+/- gross cash flow income stream projected for the mid-April to mid-November seven (7) month season renting three (3) private guest rooms with king and queen size beds and serving guests a morning continental breakfast. Earn more income from three (3) guest rooms for substantially less work than required by those larger land-based bed and breakfasts with more guest rooms which entail greater responsibility, higher acquisition cost and stifling overhead! The Ocean Romance yacht's bed and breakfast income is sufficient to cover both current overhead and generate a substantial net income ($75,000-$85,000+ annual NOI-net operating income after standard expenses) while effectively living aboard the yacht for free in very spacious, comfortable and private owner's quarters with LR/DR, 2 BR and 2BA plus large galley (kitchen). Free parking at Goat Island Marina!

The occupancy rate for the seven (7) month season renting three (3) guest staterooms is approximately 45% with an average daily guest stateroom rental rate (ADR) of $389 (with tax.) Alternatively, a buyer could rent all five (5) staterooms, offer the yacht for charter and/or operate year round for even greater income in Newport or elsewhere. Yacht refit 2012-2017. NEW EXTERIOR PAINT (partial) 2016! The discounted list price of $795,000 USD includes the well-maintained 80' Bertram yacht, the yacht's furnishings and equipment (except owner's personal effects), the profitable bed and breakfast business, Ocean Romance LLC, with hotel license, the yacht's name, good will, website, cellar telephone number and email address. Pro-rata adjustments may be made for necessary, agreed upon repairs/expenses/rental income as of date of closing. The same maintenance professionals will be available to continue to service the yacht after sale for ease in ownership transition. In addition, owner will mentor buyer to effectuate a successful change of ownership/operating transition. Owner retiring for health reasons.

Please see website at www.OceanRomanceLLC.com and current bed and breakfast listings with 5 STAR guest reviews on www.HomeAway.com, www.Booking.com and www.TripAdvisor.com.
Details

Built in 1977, refit 2000 and 2012-2016; Partial NEW EXTERIOR PAINT 2016
5 years as successful B&B
Last renovation in 2016/2017
MLS #N/A





3 Guest Room



Property Details
Financial Details
  • Offered for sale at $995,000
  • Occupancy Rate: 64%
  • Average Daily Rate: $389
  • Annual revenue is $135,000
  • Terms: Built in 1977 5 years as B&B Last renovation in 2015 For Sale By Owner 3 Guest Rooms 3.50 Guest Bathrooms 25 Parking Spots Has spacious owner's quar
  • Prequalify for Inn Financing on this property
Contact Information