Five Gables Inn & Spa - St. Michaels, Maryland - Talbot County
LOVELY EXPANDABLE COMMERCIAL HOTEL (currently 20 rooms) Nestled in St. Michaels, Maryland - "the Heart and Soul of the Chesapeake Bay" Easton, Talbot County - 6th richest small town in America (Bloomberg) - 45 minutes Bay Bridge, 1 1/2 hr Baltimore, Washington, Philadelphia - 4 hrs driving distance from largest population base in America. Represents the OPPORTUNITY to acquire a well-performing Inn in a very UPSCALE PROSPERING MARKET - Extremely high barriers to entry. Ownership Downsizing.
SALES NOTES
Legally Permissible Uses: The subject is zoned CC, Central Commercial District. This zoning permits retail sales, offices and service related businesses as well as duplexes, bed and breakfasts and hotels. Therefore any of these uses are considered permissible.
Physically Possible Uses: The subject's sites are of adequate size, shape and topography. Water and sewer are provided by the town of St. Michaels. As such, various retail, office, service related uses or residential accommodations are possible.
Financially Feasible Uses: Surrounding properties consist of various office, retail, service related uses, bed & breakfasts or hotels. The area enjoys a low vacancy rate.
Maximally Productive Use: The maximum productive use of the property is "as is" an Inn/Spa use.
Lifestyle in Talbot County: St. Michaels is upscale. Easton (8 miles) is ranked # 6 in Bloomberg's rating of the Richest Small Towns in America. A long term investor can enjoy the benefits of owning a Hotel in St. Michaels, where there are very high barriers to entry, and enjoy the Lifestyle the Eastern Shore offers, while being in the Mid-Atlantic growth area. The property is being offered at a 25% discount to a 2017 appraisal.
What the Locals Say
“The Chesapeake culture is alive and well in Talbot County,” says Cassandra Vanhooser, director of economic development and tourism. After years of traveling the South as a writer for Southern Living, Vanhooser found a spot on the map she just couldn’t leave. “We can trace our roots back to the 1600s, but our coastal towns and villages are not stuck in yesteryear,” she explains. “They are vibrant, thriving communities that combine modern amenities with Old World charm. Talbot County also draws an eclectic mix of individualists, from captains of industry to watermen (and women) who still make their living fishing for blue crabs, oysters, and rockfish.”