For Sale-Luxury Historic Inn
General Information
[ Points of Interest ] [ Galveston's Economic Climate ] [ Fixtures and Building Components ]

Galveston Island, Texas

        Circa 1866 Texas Governor's Summer Mansion                                 Galveston Island Beaches 

Imagine yourself as an islander living in this elegant Historical property! Millions of visitors each year dream about living in this tropical setting called Galveston Island. You can be one of the fortunate 59,070 island residents who live the fantasy.

Location:                                       
1103 Thirty Third Street
Galveston Island, Texas  77550
Telephone:
888-922-1866
Fax:
409-762-2077
Email:
mailto:Info@MermaidandDolphin.com


Located on beautiful Galveston Island, an Island Resort Community just 50 miles south of Houston, Galveston is Houston's #1 playground!

Explore the treasures it has to offer – 32 miles of beaches, relaxed atmosphere, abundant leisure activities, excellent medical facilities, first-rate restaurants, educational opportunities, a vibrant historic downtown and numerous attractions. Galveston has the amenities of a larger city but small town friendliness.  Temperatures are moderate, so outdoor activities are enjoyable year-round.

The Offering
Price: $1.95M

• Circa 1866 Texas Governor's Summer Mansion
• Lush, mature tropical gardens surround the estate (featured on HGTV.)
• Approximately 11,540 sq. ft., 3 floors and verandahs
• Carriage House- Secret Gardens Suite-264 sq ft.
• Red Oak floors throughout inn
• Magnificent Chandeliers
• Many beautiful architectural details
• 8 Guest Suites all featuring Luxury Baths, Private Balconies or Garden Terraces, Private Jacuzzi Hot Tubs, Magnificent Beds, Fireplaces
• 4 Half Baths
• 12 Working Fireplaces, all gas burning
• Conservatory with year round indoor "endless" swimming pool
• Sun Decks
• Fitness Center with Massage Area
• Library/Business Center
• Separate Owner’s Quarters, 900 sq. ft. with private bath
• Gourmet Commercial 2 Cook's Kitchen, with full restaurant certification
• Formal Ballroom/Dining Facility "Changes in Latitude" with seating for 36, could be easily expanded to 48

Historical inn, completely renovated 1997-2001. All new electrical system and
wiring. All new plumbing, supply lines, and plumbing fixtures. All new
natural gas lines. Commercial security fire alarm system installed. Cable
TV, Stereo, Telephone and DSL wire networks throughout Inn. Individual
AC units throughout Inn allowing individual room cooling. Automatic
sprinkler systems throughout all gardens. Low maintenance!
All the charm of Historic accommodations but without the dread of worn out
building components & maintenance headaches!

• Great Income Stream
• Great Occupancy Rates- (National Average 53%)
    Occupancy 2002: 58%
• High Average Daily Room Rates (National Average $107)
    ADR 2001:  $156
    ADR 2002:  $210
• Great Net Before Debt -NBD (National Average 38%)
NBD 2001:  50%
NBD 2002:  65%
• Additional Unused Space -Room for Expansion and Growth, additional suites, spa facilities, or increased seating capacity for restaurant operation
• Untapped Potential- Restaurant/Dining, also Wedding Market, ceremonies and receptions, with current 36-seat facility

The purchase price is for a "Turnkey" operation and includes furnishings, fixtures and equipment. Personal property/collections are excluded or offered as optional. Detailed inventory list will be provided to interested buyers.

Purchase price also includes all advertising, the business name, web domain name, licenses and permits. Proven track record, plus room for expansion; building out the attic lofts, and additional space on ground floor. The full income potential for this magnificent property has yet to be developed. Ballroom and banquet facility/wedding market untapped. Full restaurant certification by Health Department, with seating capacity of 36. Currnet owners have not developed the dining facility. Dining facility DBA, "Changes in Latitude" included with purchase.

Financing:

            Purchaser required to have their own funding or conventional financing. Owner financing is not an option.

Strong Internet presence, View The Mermaid & The Dolphin's Web Site!

Consulting/Training Package:

The owners are offering a liberal consulting/training package to help new innkeepers make a good transition.

Great Press Coverage:

*Established, March 1997
*Newly Renovated and Lavishly furnished, Inn was featured on the Galveston Historical Foundation's 25th Anniversary Tour, May 1999
*Featured by Travel Editor, Syd Kearny, The Houston Chronicle, May 1999
*Featured by Travel Editor, Jean Simmons, The Dallas Morning News, November 1999
*As seen on FOX TV, May 1999
*Featured In Texas Monthly Guidebook
*Featured in Romantic Getaways, June 1999
*Featured in Houston Lifestyles & Homes, May 2000
*Featured on Galveston's Garden Tour, June 2000
*Featured by Travel Writer, June Naylor-Rodriquez, Fort Worth Star Telegram, August 2000
*Featured by Contributing Writer Jan Johnson, "An Island Sanctuary", Where Houston Magazine, August 2000
*Featured in Houston Lifestyles & Homes, November 2000
*Featured in Best Fares Magazine, December 2000
*Featured in "Great Escapes", Victorian Magazine, Spring 2001
*Featured in "Destination Texas", Southwest Airlines, Spirit Magazine, April 2001
*Featured in "Great Getaways in Texas", Gourmet Magazine, June 2001
*Featured by Travel Editor Syd Kearney, The Houston Chronicle, Sunday, October 28th, 2001
*Voted as one of "Top 25 Inns Nationally" by inn-goers in Arrington's Bed & Breakfast Journal
*Featured by Travel Writer, Gayle Forman, Travel & Leisure Magazine, January 2002
*Featured in The Toronto Star, February 14th, 2002
*Featured on HGTV, "The Secret Gardens of Galveston" March/April 2002!
*Featured in Coastal Living Magazine, Spring 2002
*Featured in GulfScapes Magazine, March/April, 2002
*Featured in National Geographic, Weekend Getaways, August 2002
*Featured in Atlanta Goodlife Magazine, July 2002
*Featured in Galveston's Port-of-Call Magazine, March 2002

Affiliations:

Member Galveston Hotel Motel Association

Reason for selling: Health

Economic Overview: see Galveston's Economic Climate

[ Points of Interest ] [ Galveston's Economic Climate ] [ Fixtures and Building Components ]

Priced at $1.95 M