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3236 Shulls Mill Rd
Boone, NC 28607

Inn at Crestwood | 20 Year NNN Sale Leaseback · Hospitality Property For Sale · 30,396 SF

PROPERTY FACTS

Property Type Hospitality
Property Subtype
Hotel
  • Hospitality Hotel
Building Class B
Lot Size 4.87 AC
Building Size 30,396 SF
Number of Floors 3
Year Built/Renovated 1949/2019
Parking Ratio 0.69/1,000 SF
Corridor Interior

Amenities

  • Balcony
  • Business Centre
  • Fitness Centre
  • Pool
  • Restaurant
  • Room Service
  • High Speed Internet Access
  • Patio
  • On-Site Bar
  • Boutique/Lifestyle Hotel
  • Meeting Event Space
  • Wedding Venue
  • Public Access Wi-Fi
  • Smoke-Free
  • Fully-Equipped Kitchen
  • Multi-Room Suites

About 3236 Shulls Mill Rd , Boone, NC 28607

Retail Investment Group is pleased to be the exclusive listing agent for Inn at Crestwood in Boone, North Carolina. This property is an absolute NNN sale leaseback that will expire 20 years from the close of escrow. There are 2 (5)-year options and 8.5% increases every five years. The Inn is ±23,000 square feet and sits on ±7.01 acres of land. Considered a “boutique hotel” it is three stories with 45 rooms. The property was built in 2001 and received renovations in 2019. More renovations are set to occur after close of escrow with sale proceeds (estimated at $500,000). The property’s guarantor and lessee is Mount Royal Vacations. The operator has occupied the property since its construction. The Inn generates income through daily rates, the spa, dining, weddings and corporate events.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1898-69-9980-000
Land Assessment
£379,605
Improvements Assessment
£2,899,342
Total Assessment
£3,278,948

zoning

Zoning Code C19
C19
  • Listing ID: 18466784

  • Date on Market: 10/02/2020

  • Last Updated:

  • Address: 3236 Shulls Mill Rd, Boone, NC 28607

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