Latta, SC Offered for sale at $1,290,000
PRICE REDUCED $100,000
This thriving Inn and Restaurant has been operating successfully for 25 years. Revenue for 2020 is up over 20% over 2019.
With enhanced covid protocols, including an ion air purification system, the Inn has become known as a safe and healthy place for travelers building on a successful 25 year base of repeat guests. While the restaurant remains closed to the public and the Inn has not hosted its regular ongoing events, revenue has increased. Later this year when normal operations can resume can resume to pre-covid levels, the potential for significant increase in revenue exists.
The Inn is located in a safe and quiet turn of the century village. It is halfway between NYC and Palm Beach just 5 miles from Interstate 95. It is the only upscale lodging between Richmond and Jacksonville with close proximity to the Interstate. Abingdon Manor is the most convenient overnight destination for travelers looking for upscale accommodations and dining as they make their way North or South.
This National Register property is an elegant southern mansion with opulent architectural details on 3 acres of landscaped grounds. The 10,000 square foot building is Federalist in style with 40 exterior columns and a 2,000 sq. foot wrap-around verandah. There are seven spacious guest rooms with private baths (including four newly renovated) and seven oversized common areas and two public restrooms.
There is a separate one bedroom owner’s cottage on property.
The full service restaurant with beer, wine and liquor licenses provides a refined, pre-fixe dining experience for guests in a relaxed and manageable format. Dinner preparation is doable for a self taught cook or experienced chef.
A well trained, dedicated staff (some employed here over 20 years) provides ongoing support for operations and maintenance allowing the owners to travel and regularly take time off. The property is maintained in excellent condition.
The Inn is a member of Select Registry, Distinguished Inns of North American and for two decades has been an AAA Four Diamond Award winner.
SBA is offering some very substantial incentives for purchases of this type of property and additionally our property is located in an “Opportunity Zone”. Investing in Opportunity Zones allows you to defer and even reduce the amount that would otherwise be owed on capital gains tax. Best of all, if held for 10 years, no tax is owed on the appreciation in value of the property.
- Offered for sale at $1,290,000
- Terms: Cash. Property in Opportunity zone” eligible for capital gains tax benefits.