InnShopper > Inns for Sale > Rhode Island > Newport > Pilgrim House Inn

Pilgrim House Inn


Newport, RI   Offered for sale at $1,650,000
 

The Pilgrim House Inn is a property consisting of one building with three stories and basement, pleasant backyard, and extraordinary roof-top deck for seasonal guest breakfast and afternoon/evening refreshments. The original house was built in 1824 with many additions and renovations added over the years.

The overall architectural style is “New England Victorian” with Mansard Roof. There are a total of 11 guest rooms. 3 rooms are located on the main floor, 5 on the second floor and 3 on the third floor. The Inn enjoys a favorable reputation of genuine hospitality in the midst of a spectacular New England seaside destination location bed and breakfast experience.

The owner’s quarter consist of an open floor plan kitchen, dining area and living room. There is office space next to the kitchen/dining area. There is one bedroom and one bath and a small spare room and utility room. A rear private entrance and private deck is accessed from the living room.

The Inn is located in the town of Newport, Newport County, in the heart of the city. As of the 2010 census, the city’s population was 24,672. The property is comprised of one parcel of land. Newport is a wonderful ‘Destination Location” for visitors from all over and the inn’s location, essentially, ‘downtown’ is clearly a wonderful asset!

The property was purchased by the current owners in 2000. In addition to the 11 guest rooms there is a reception area and parlor with gas fireplace on the ground floor. The dining area with an outside deck with spectacular harbor views is located on the third floor. Breakfast is served as a continental/buffet style. Laundry is located in the basement with access from the outside off the rear garden area.

It is axiomatic in real estate and business that the three most important things are location, location, location. It is no different with a bed & breakfast inn. While some believe (and a very few have made it so) that you can “Build it and they will come,” the reality remains that guest occupancy is driven in large measure by location combined with a quality facility that is well marketed by gracious hosts offering a rewarding and memorable guest experience. A location is what it is and cannot be changed by a property owner, though involved business owners can participate in making their communities better, thereby improving the quality of a location over time.

Newport is located on the southernmost tip of Aquidneck Island, one of the many islands of Rhode Island in the heart of southern New England. Newport is conveniently located from all major transportation hubs in this section of New England. Newport is known as ‘America’s First Resort’, ripe with art, culture and history.

The Inn is located in the heart of the seaside city and very walkable to restaurants, upscale shops and historic sites.



Property Details
  • 11 Guest Rooms
  • 11 Guest Room Baths
  • Has Owner's Quarters
  • Built in 1824
  • Last Renovated in 2016
  • Opened in 1982
  • Building is 5,000 SQFT
  • Lot is 0.1 Acres
  • Photo Gallery
  • Property Website
Financial Details
  • Offered for sale at $1,650,000
  • Occupancy Rate: 44%
  • Average Daily Rate: $210.00
  • Annual revenue is $2,016
  • Prequalify for Inn Financing on this property
Contact Information