Black Lantern Inn

Roanoke, VA   Offered for sale at $800,000

Area Description
Roanoke VA is a diverse and dynamic city nestled in the Blue Ridge Mountains, where you can enjoy scenic nature, rich culture, historic landmarks, and many entertainment venues. It is also a center of innovation with a thriving research center (Fralin Biomedical Research Institute), health provider (Carilion Clinic) and academic institution (Virginia Tech Medical School) only minutes from the Inn. Owners state that “We have experienced the importance of living in a supportive and collaborative small business community that works to help us succeed and thrive”. The population of Roanoke City was 100,011 as of April 1, 2020. Greater Roanoke also boasts a fantastic collection of colleges and universities with 21 institutions of higher learning within a 60-mile radius.
The region is proud of awards and accolades for its quality of life, including the following:
• Mountain Biking Capital of the East Coast
• Home to VA Blue Ridge Twenty24 Olympic Cycling Team
• Professional Hockey Team
• Best Trail Town by Blue Ridge Outdoor Magazine
• 100 Best Places for Business Development Inc. Magazine
• Best Places to retire by Money Magazine
• 10 Best Places to Raise a Family by Parenting Magazine
The Inn is a walkable mile from the lively downtown with locally owned restaurants, bars, craft breweries, as well as arts and cultural attractions, such as museums, art galleries, and a historic farmers market. The famous Roanoke Star is an iconic symbol of Virginia's Blue Ridge and a must-see spot when visiting the region. The “Star” is visible from the Inn and only minutes away.

Site Description
The Black Lantern Inn at 1526 Franklin Road is located within the Historical Southwest neighborhood of the City of Roanoke, VA. The property is 0.175 acres and is zoned MX (mixed use).
The adjacent lot at 1530 Franklin Road is 0.0555 acres and is zoned MX (mixed use).
Both properties are included in the sale.
The Inn is located less than 10 miles from exit 143 off I-81, and 1 mile from the heart of historic downtown Roanoke. The iconic Roanoke Star at the top of Mill Mountain is 1.2 miles away, and the entrance to the Blue Ridge Parkway is another 2 miles (mile marker 121). The Roanoke River Greenway is 1/3 mile away, and one of the most popular hikes on the Appalachian Trail – McAfee Knob – is approximately ½ hour away.

Structural Description
The Black Lantern Inn dates back to the early 1900’s, but was completely renovated in 2008, preserving its’ original architecture while adding modern conveniences such as central air conditioning. It was recognized by the City for Architectural Preservation Excellence. It has 4 bedrooms and 4 ½ bathrooms, 2 kitchens, laundry room, front and back porches, and a 2nd floor covered deck, totaling 2,720 sq ft. The owners occupy the 1st floor, with guests on the 2nd and 3rd floors. The Inn also has a full stand-up basement. The property outside features a private off-street parking lot with 6 designated parking spots, an outdoor covered brick patio, a firepit, gardens, outdoor bike wash and mature trees. The house is located in a mixed-use zone and has a Zestimate top range value of $565,000 as of April 10, 2024. It also includes an adjacent tree lined yard for future use valued at $110,000. The Inn is proud to be recognized as a Virginia Green Tourism Partner with one of the highlighted features being the gutters that drain underground water to a garden area.

Offering Description
Listed for sale at $800,000. Price includes the 15 year old business, real estate and assets, the adjacent lot, complete guest list (2,000+), website, marketing materials, menus, training, bookings through 2025, and #1 ranking on Google, TripAdvisor and The Inn profitably operates 210 days/yr by choice at 70% capacity. New owners could easily increase sales and profitability by expanding the operating calendar. Reason for sale – owners looking at retirement options and relocating.

Property Details
  • 3 Guest Rooms
  • 3 Guest Room Baths
  • Has Owner's Quarters
  • Built in 1900
  • Last Renovated in 2008
  • Opened in 2008
  • Building is 2,720 SQFT
  • Lot is 0.45 Acres
  • Photo Gallery
  • Property Website
Financial Details
  • Offered for sale at $800,000
  • Terms: Will pay 3% Buyer Brokers fee at closing.
Contact Information

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