Historic Hotel / Mixed Use Property Available with 82,000 Sq Ft
SPECTACULAR AND RARE OPPORTUNITY TO OWN A CITY BLOCK IN GROWING BATESVILLE, INDIANA & 82,000+ SQUARE FEET OF INCOME PRODUCING PROPERTY AT 10% OF REPLACEMENT COST! This property offers a variety of areas including a renovated boutique hotel (22 rooms), a premier restaurant with adjoining bar, a 7,200 square foot Bier Hall with rare 50 foot copper topped bar, an outdoor Biergarten venue, a huge banquet room with capacity for 120 guest, two separate dining / conference rooms (capacity of 25 & 12), a retail space currently occupied by tenant, and a 21,000+ square foot warehouse with 3 levels & endless possibilities to monetize! The 22 room boutique hotel has been accepted into the Historic Hotels of America.
Just some of the recent improvements include: new roof and gutters, upgraded electrical, new airflow systems, new lighting, new windows, complete renovations of restrooms, addition of custom bar, replacement of 95% of exterior Tudor trim, restoration of all stucco, new signage, and new flooring & paint throughout much of the property. Batesville is conveniently located near metropolitan areas of Indianapolis, Cincinnati, Dayton, and Louisville with an attractive average household income of $85K+ a year. This is truly once in a lifetime opportunity to bring a historic property to it's highest and best use! Property is priced at less than $21 per square foot...hurry! Current owners are not operating the restaurants or Bier Hall / Garden. They are actively operating the 22 hotel units. Contact Scott Armstrong for financial reports.
