Cornell Inn | 203 Main St
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Cornell Inn 203 Main St
28 Room Hotel Lenox, MA 01240 $4,100,000 ($146,429/Room) 9.59% Cap Rate
Investment Highlights
- Location in the storied town of Lenox
- Dazzling contemporary hospitality venue with décor and amenities on the cutting edge of innovative lodging design.
- Extensive decks with outdoor seating are built around a landscape waterfall that cascades into a koi pond.
- Borders Kennedy Park offering 15 miles of groomed trails abutting the Cornell Inn’s grounds.
- Situated on 3.9 acres amidst lush shade gardens, rock walls and meandering Goshen stone walkways.
Executive Summary
The Cornell Inn is one of the hospitality industry’s hottest, new luxury lodging destinations. The current owners have completely redesigned, renovated and refurnished this strategically located inn transforming it into one of the most imaginatively decorated and uniquely appointed inns in the Northeast. The design and décor of the 28 guest rooms, suites and baths rivals that of any of the industry’s top, upper echelon inns. As of June 2024, completed bookings and advance reservations were up 41% over the same period in 2023. Gross lodging sales are on pace to hit $2m in 2024.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Amenities
- Balcony
- Business Center
- High Speed Internet Access
- Patio
- On-Site Bar
- Bed & Breakfast
- Smoke Detector
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $400.00 | - |
| Guest Room | 24 | $235.00 | - |
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PROPERTY TAXES
| Parcel Number | LENO-000046-000019 | Total Assessment | $1,603,800 (2024) |
| Land Assessment | $600,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,003,800 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
LENO-000046-000019
Land Assessment
$600,000 (2024)
Improvements Assessment
$1,003,800 (2024)
Total Assessment
$1,603,800 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R-1A (Residential) |
| R-1A (Residential) |
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Cornell Inn | 203 Main St
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