Wedding and Event Venue on the Gulf Coast

Hospitality for Sale
Catylist Listing ID: 30722014
Number of Units: 1 Units
Building Size (RSF): 5,300 SF
Gross Building Area: See Agent
Gross Land Area: 10 - 67 Acres
Sale Price: $899,999
Unit Price: $899,999 Per Unit
Property Use Type: Investment, Business
Building Name: Hermitage-Rippy Estate
Name of Establishment: Wedding / Party Venue
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/15/2021

Overview / Comments

This Replica of Andrew Jackson's Hermitage Home was constructed in 1986 by Mr. H.A. Rippy Jr. who greatly admired and studied the life of Andrew Jackson. Although primarily used as a residential home, the beautiful grounds have become an established wedding & reception venue located in Mobile, Alabama. The current owners provide a mix of natural beauty and elegant design, to customize each and every wedding and event. The facility is excellent for events that range from informal parties to extravagant affairs. For smaller parties, the lake is also a beautiful alternative for event space.

The new owners can choose to continue the tradition of an entertainment / special events venue or simply use the incredible estate as a single family home on 10+ acres and a lake. The current owners have a total of $51,000 under contract for 2021 and $10,900 under contract for 2022. The event planning requires little work for the owners. Their model is to simply rent the first floor of the home and grounds with the exception of tables and chairs all other aspects are third parties. This makes for a great opportunity if new owners want to provide additional services. For example: Catering, Tents, Music, Horse and Buggy, all third party. The operating costs are minimal, simply renting the venue for events.

The home consists of a Master Bedroom and Bath along with two half baths on the first floor. The second floor also has a Master Bedroom and Bath and two more Bedrooms with a Jack and Jill Bathroom and separate shower room. There is also a 950+/- square foot garage.

Approximately 57+/- additional acres surrounding this property that can also be purchased if tied to the Hermitage Home sale.

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: R023501120000020.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,838 5,842 26,447
Median Age: 38.8 36.72 35.52
Households: 960 1,973 9,171

Contact

Photograph of Listing Agent

Bill Kleinschrodt

WRK Real Estate, Inc.
Gulf Coast CMLS Member
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