15702 Highway 197Clarkesville, GA 30523

Property Details for 15702 Highway 197

Year built

1947

Construction

FRAME

Lot size

6.37 AC

Property size (Sq ft)

7,053 SF

Zone code

LI

Property type

Hospitality properties

Property subtype

Hotels

APN

032 048

APU

32048

Description

This exceptional 3,538 sq ft property, situated on 6.17 acres just two minutes from Lake Burton in Clarkesville, Georgia, presents a lucrative turnkey opportunity. The main lodge, known as the North 40 Lodge Bed & Breakfast, features four uniquely charming guest rooms, each with a private entrance, back porch, and full bathroom. These rooms are currently utilized as successful vacation and short-term rentals, generating significant income. The property also boasts a fully operational restaurant complete with a full bar and a professional kitchen, adding another revenue stream. A cozy back deck provides additional seating for restaurant patrons and lodge guests. Further enhancing the income potential is a separate one-bedroom, one-bathroom authentic log cabin, also used as a vacation rental. Combined rental income from the lodge and cabin exceeded $100,000 last year, in addition to restaurant revenue. A substantial shop/storage building offers significant expansion potential, easily adaptable into additional office space or rental units. This established and profitable business is ideally located in a highly desirable area, offering a rare blend of hospitality and investment potential. The property's prime location near Lake Burton ensures consistent demand for its lodging and dining services. This is a remarkable opportunity for an investor seeking a well-established, high-income-generating business with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,405,898

  6.5%

  $1,297,752

  7%

  $1,205,055

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,233,032

  Geo Method

  $3,233,032

• Alternative Use

  Use

  Valuation

  Residential

  $1,416,768

  Hospitality

  $1,297,752

  Educational

  $1,079,714

  Medical

  $1,116,847

  Retail

  $1,679,556

Location Insight

City

Clarkesville

County

Habersham

State

Georgia

Latitude

34.7905

Longitude

-83.5739

CBSA code

18460

CBSA name

CORNELIA, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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