Zeb B. Barfield Inc.
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Zeb B. Barfield Inc.
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PUBLIC AUCTION of Valuable Motel & Furnishings PRESIDENTS WEEKEND Saturday February 18, 2012 @ 1PM THE HISTORIC LIGHTHOUSE INN 4218 Main Street Chincoteague, VA
Zeb B. Barfield, Inc is please to have been chosen as the auction company to offer this investment property known as The Historic Lighthouse Inn
The historic Lighthouse Inn is in the heart of beautiful downtown Chincoteague Island, VA. The Lighthouse Inn is one of the longest running hotels on the Island. Chincoteague was recently voted #1 Beach Town by AOL. The hotel sits along Main Street and boasts 17 guest rooms with a grand apartment of 2-3 BR above the office. This arrangement is absolutely perfect for the owner/operator. The motel has a pool with heated spas, as well as a great outdoor screen room perfect for cookouts, parties, or entertaining.
This property is priced to sell as the owner has several other business interests currently underway. In a situation where the auction block price was over $850K, the owner will finance all but $200K at 7.5% for 20 years. Should the auction block price be below $850K, the purchaser will have to arrange their own financing.
This property is assessed by the County of Accomack at $1.1M 757.894.2626 zeb@zebsauctions.com 757.824.4698
FOR ADDITIONAL INFORMATION GO TO DIRECTIONS: Take your local RT to RT 13. Turn east off RT 13 onto RT 175. When you arrive at the stop light on Chincoteague Island, VA, turn right. The Historic Lighthouse Inn will be on your left and signs are posted. We would be happy to allow your preview of the property upon request. TERMS: $25,000 down the day of the auction, per property in cash, cashier’s check, or pre approved personal check. A 3% buyer’s premium will apply. This property is being sold in AS-IS condition without any warranty of any kind.
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Copyright © 2001
Zeb B. Barfield, Inc.
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