A profitable and unique lodging property in buzzing Bristol, Vermont! We are thrilled to be offering this architecturally significant, strategically renovated and well positioned hospitality property at the heart of a thriving New England market and within minutes of Middlebury, Vermont, with its active liberal arts college. Bristol suites offers seven spacious accommodations (two "mini suites" and five sprawling apartment style rentals with kitchens and expanded common and dining areas), well designed support facilities, and two retail spaces with high visibility. One of the storefront retail spaces - Vermont Marketplace - is operated by owners of Bristol Suites and is included in the transfer while the other space is rented to a local business on a monthly basis. This historic and exceptionally well maintained asset and business is within walking distance to all of Bristol's amenities, celebrated restaurants, and mere miles from the Long Trail and Mount Abraham, offering access to dozens of hiking trails, swimming holes and striking waterfalls. Business activity reflects Bristol's strength as an established leisure travel destination in addition to the benefit of proximity to a thriving liberal arts college which drives occupancy outside of the peak summer season. This is a rare opportunity to purchase one of the most historically significant buildings in the downtown area of Bristol and a well established hospitality business. View the 3D Tour and call/text for details!
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,200,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $960,000 | $960,000 | $960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.750% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | $1,205 | $1,205 | $1,205 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,602 | $6,068 | $8,101 |
Total Monthly Payment | $6,932 | $7,398 | $9,431 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.