for sale: oceanside resort hotel the …...for sale: oceanside resort hotel stephen cefalo...
TRANSCRIPT
HISTORIC INN WITH A STUNNING OCEANFRONT LOCATION
Successful resort hotel with 36 rooms/suites, restaurant for refined or casual dining, swimming pool, event rooms for weddings, retreats, meetings and other gatherings
Historic property dating back to the 1950’s—recently renovated in 2016 with many upgrades
Turnkey opportunity with all FF&E included in sale
Located in historic Rockport—famous for its art colony, beaches, whale watching and more
Nearby are golf courses, lighthouses and year round events including the Rockport Chamber Music Festival
NEW SALE PRICE: $ 4,500,000
The Emerson Inn
Rockport’s Premier Boutique Hotel
Rockport, Massachusetts
KAREN RICH BROKER
207.210.6637 direct 207.671.8808 cell [email protected]
CHERI BONAWITZ CCIM, BROKER
207.210.6638 D 207.240.6844 C [email protected]
FOR SALE: OCEANSIDE RESORT HOTEL
STEPHEN CEFALO BROKER/OWNER
Cell: (781) 789-5808 Fax: (781) 662-2951 [email protected]
PROPERTY SUMMARY THE EMERSON INN | INTRODUCTION
The Emerson Inn is a classic Massachusetts oceanfront hotel, perfectly situated between panoramic Halibut Point and charming Bearskin Neck, in Rockport. With over 150 years of history, the Emerson Inn has welcomed travelers from near and far seeking rest and relaxation on scenic Pigeon Cove in a relaxing, natural oceanfront setting.
Beautifully restored to offer guests modern amenities and conveniences while maintaining the charm & grace of yesteryear, the Inn is a perfect getaway for North Shore family vacations, romantic getaways on Cape Ann, or solo travelers seeking rest & respite along the ruggedly beautiful Cape Ann coastline.
Pigeon Cove Tavern, the on-site dining experience, perfectly encapsulates quintessential New England comfort food with sophistication and intuition. Characterized by a commitment to New England fare done right, such as chowder, lobster rolls, and other local favorites, the tavern is the perfect meeting place for any occasion. Whether enjoying appetizers and a couple drinks after a day on the town, toasting to a special date with a romantic candlelit dinner, or just savoring that perfect lobster roll, at Pigeon Cove Tavern we celebratesimplicity with our unique take on sophisticated comfort food.
Events By The Sea - The Emerson Inn also welcomes corporate retreats, familyfunctions, weddings, and other special events at many different venues across our ocean view hotel. The Emerson Inn will make every upcoming event truly unforgettable!
Note that there are currently 8 “buyout weddings” contracted for 2020. A buyout wedding has exclu-sive use of the property with all guest rooms secured as well.
For more information: www.emersoninnbythesea.com
This document has been prepared by Malone Commercial Brokers for advertising and general information only. Malone Commercial Brokers makes no guarantees, represen-
tations or warranties of any kind, expressed or implied, regarding, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake
their own inquiries as to the accuracy of the information. Malone Commercial Brokers excludes unequivocally all informed or implied terms, conditions and warranties arising
out of this document and excludes all liability for loss and damages there from. All data is subject to change of price, error, omissions, other conditions or withdrawal without
notice. Malone Commercial Brokers is acting as the Seller’s/Lessor’s agent in the marketing of this property. 6-5-2020
PROPERTY SUMMARY
SELLERS: Migis Hotel Group Emerson LLC
ADDRESS: 1 Cathedral Avenue, Rockport, MA
SITE SIZE: 1.8 Acres
BUILDING SIZE: 33,577 SF on 5 Floors
ZONE: SR
DEED: Essex County Registry Book 34242, Page 513
ASSESSORS REFERENCE Map 15 / Lot 34
ASSESSMENT: Building -$3,453,200; Land - $369,400; Other - $23,300. Total $3,845,900
WATER/SEWER: Public water and sewer (new septic line from building to street 2019)
AGE: Built circa 1920 Renovated in 2016
PARKING: Ample parking on-site
THE EMERSON INN - PROPERTY INFORMATION
MALONE COMMERCIAL BROKERS | 5 MOULTON ST, PORTLAND, ME 04101 | 207.772.2422 | MALONECB.COM
PROPERTY DETAILS:
REDUCED SALE PRICE: $ 4,500,000
Financials available upon request and with a confidentiality agreement executed. See broker for details.
BUILDING DETAILS
PROPERTY SUMMARY
BUILDING SIZE: 33,537 SF
CONSTRUCTION: Wood Frame with a combination of aluminum and vinyl siding
FOUNDATION: Finished basement with 4,950± SF
ROOF: Gable/Hip Roof with combination asphalt shingles (Note - new roof on covered dining area
FLOORS: New carpet in all the rooms; wood
SECURITY: Online system for life safety
SPRINKLER: None. Multiple fire escapes and window ladders to meet code (inspected annually by local fire department)
HVAC: New high efficiency mini split heat pumps (heating and cooling systems) in all guest rooms; common space heating is forced hot water from boilers that also produce domestic hot water
POWER: Extensive new wiring to add outlets and lighting through much of the Inn
F F & E: The property will be conveyed with all assets
RECENT IMPROVEMENTS:
Rebuilt/replaced all the columns on the Oceanside covered dining area 2018 New paint throughout the entire Inn New carpet in all rooms Some new FFE—New nightstands, beds/mattresses, lighting Significant investment in replacement and addition of commercial dryers and com-mercial washer extractors in laundry 2016-2019 Reconfigured kitchen and dish area 2016 Rebuilt much of the rock wall that surrounds half the property in 2016 New driveway/parking lot fence 2017 Pool: New paint, pump and cover 2019 Walk-in compressors recently replaced New computer systems. Upgrades—POS and PMS systems; fibre internet feed
THE EMERSON INN | BUILDING
MALONE COMMERCIAL BROKERS | 5 MOULTON ST, PORTLAND, ME 04101 | 207.772.2422 | MALONECB.COM
PROPERTY SUMMARY THE EMERSON INN | PHOTOS
MALONE COMMERCIAL BROKERS | 5 MOULTON ST, PORTLAND, ME 04101 | 207.772.2422 | MALONECB.COM
• CALL
EXCLUSIVE OPPORTUNITY - THE EMERSON INN
FOR SALE | 1 CATHEDRAL AVENUE - ROCKPORT, MA
FOR MORE INFORMATION, PLEASE CONTACT CHERI OR KAREN AT MALONE COMMERCIAL BROKERS
STEPHEN CEFALO Broker/Owner 12 Mount Vernon St, #47 Melrose MA 02176 Cell: (781) 789-5808 Fax: (781) 662-2951 [email protected]
CHERI BONAWITZ, CCIM KAREN RICH Malone Commercial Brokers 5 Moulton St, #3 Portland, ME 04101 Office: (207) 772-2422 [email protected] [email protected]
www.malonecb.com
CONFIDENTIALITY AGREEMENT
Thank you for your interest in the exclusive listing of Malone Commercial Brokers, Inc. located at 1 Cathedral Ave, Rockport,
MA (Emerson Inn). We are prepared to show this property to you and to provide detailed financial information pertaining to
the property. All information relating to this listing is confidential and proprietary information to the extent that such
information is not publicly available.
On our client’s behalf, we have agreed to provide information to you on this property only upon your agreeing to the following
specific conditions:
That you will treat all such information whether received in writing, orally or in any other form, in accordance with the
provision set forth in this Agreement.
That you will not utilize any information for any purpose whatsoever other than your own evaluation of the property and
that you will not copy any materials or communicate any information to third parties without the prior written consent of
Malone Commercial Brokers, Inc. or the property owner.
That all information is handled and stored with the same security and care you would provide for your own confidential
information and data.
That the information shall be disseminated within your organization only to those persons who have a "need to know" in
connection with your evaluation of the property. Such dissemination within your organization shall include advising such
personnel of the requirements of this Agreement and obtaining their concurrence to its terms.
That all material delivered to you shall remain the property of Malone Commercial Brokers, Inc. and the materials and all
copies shall be returned to us immediately upon our request.
That your obligations hereunder will be continuing, even after you have returned all materials to Malone Commercial
Brokers, Inc..
That you understand Malone Commercial Broker’s is representing the seller in this transaction.
Please confirm that you will accept the information we provide you subject to the terms set forth above by signing a copy
of this letter and returning it to Malone Commercial Brokers, Inc.
I/We agree that all information that Malone Commercial Brokers provides me/us about properties listed with Malone
Commercial Brokers will be accepted subject to the terms set forth above.
_____________________________________________ _______________________
Signature Date
_________________________________________ ______________________________________________
Name (Please Print/Type) Company
_________________________________________ ______________________________________________
Telephone Number Address
_________________________________________ ______________________________________________
Fax Number E-Mail Address
_________________________________________ ________________________
Broker Signature Date
_________________________________________ ______________________________________________
Broker Name Broker Company
_________________________________________ ______________________________________________
Broker Telephone Number Broker Address
_________________________________________ ______________________________________________
Broker Fax Number Broker E-Mail Address