Description
A Fantastic Investment Opportunity in the Hospitality Industry! Part of the fabric of Belvidere is the Belvidere Hotel (established in 1831). Current owner extensively updated and renovated this approximate 13,000 sq ft building with a 1-million-dollar bank loan! Offered are 21 bedrooms including 15 Regular rooms (King- and Queen-sized beds) and 6 Suites (all with Queen-sized beds). Public Water, Public Sewer, Natural Gas, 7-zone updated central air system! Broad class "C" liquor license also to be conveyed with this sale! The Belvidere Hotel will reach its full potential when you resurrect the beautiful bar space in the basement, as well as the banquet room in the rear of the building (these two areas constitute approximately 6,000 sq ft). Cap rate without utilization of liquor license is +/- 13%. Please ask Jack for more details! We await your visit! As a notation, taxes have been appealed and judgement has been entered in tax court. Taxes for 2021 to be approximately $18,000.
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0BEDS
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0.31ACRES
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0BATHS
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01/2 BATHS
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13,000SQFT
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$85$/SQFT
School Ratings & Info
Description
A Fantastic Investment Opportunity in the Hospitality Industry! Part of the fabric of Belvidere is the Belvidere Hotel (established in 1831). Current owner extensively updated and renovated this approximate 13,000 sq ft building with a 1-million-dollar bank loan! Offered are 21 bedrooms including 15 Regular rooms (King- and Queen-sized beds) and 6 Suites (all with Queen-sized beds). Public Water, Public Sewer, Natural Gas, 7-zone updated central air system! Broad class "C" liquor license also to be conveyed with this sale! The Belvidere Hotel will reach its full potential when you resurrect the beautiful bar space in the basement, as well as the banquet room in the rear of the building (these two areas constitute approximately 6,000 sq ft). Cap rate without utilization of liquor license is +/- 13%. Please ask Jack for more details! We await your visit! As a notation, taxes have been appealed and judgement has been entered in tax court. Taxes for 2021 to be approximately $18,000.
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Data last updated 2023-06-04T15:46:21.717.