148 Tinker Street, Woodstock, NY 12498 (MLS# 20211313)

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Property Description
Rare opportunity to own The Herwood Inn – a fully renovated and 100% turnkey hospitality business on Tinker Street in the heart of Woodstock! The Herwood Inn – a unique and super-stylish boutique inn at 148 Tinker Street – boasts modern, bohemian design with 4 individual suites each, with a kitchenette (stocked with mini fridge/freezer, drawer dishwasher, small oven, coffee machine, and electric stovetop), private outdoor space, and high quality fixtures and furnishings such as Casper mattresses, Brooklinen sheets, and West Elm robes. The self-check-in property has been carefully thought out for ease of maintenance, housekeeping and with excellent guest service in mind. Everything, and we mean EVERYTHING, is brand new! The current owners have completely renovated the entire property in 2020 and set it up perfectly for a new owner to come in and start generating income from day one. Additionally, everything in the inn has been selected in accordance with the owners’ ethos to only use eco-sustainable, cruelty free, and fair trade goods and to connect guests to makers and artisans who maintain the same desire to change the world for the better. The Inn functions as 4 separate short term rentals which can be rented through their website or various other rental platforms. Each suite has keyless entry with self check-in and comes equipped with an in-room iPad which includes a platform that allows guests to retrieve information, order products from the shop, and search things to do in the area. Common areas have been transformed into hyper functional spaces that ooze character starting with the outdoor oasis known as “The Shed” which includes a covered lounge area with projector, screen, and speakers, a fantastic wood hot tub, and bikes for guest use. Additional gathering space is available in the interior lounge called “The Commune” where guests may gather, purchase snacks and beverages, or peruse items offered by the inn shop. Located in one of the most popular towns in the Catskills and within walking distance from tons of shops and restaurants on Tinker St, the projected 23% cap rate is likely conservative. The scale of the inn also makes it ideal for offering a full guest buyout for hosting events from small weddings and corporate retreats to birthdays, parties, workshops, and classes. The sale comes with an equally stylish website, Instagram account with 10k+ followers, plus all indoor and outdoor furniture, art, bedding, and kitchen supplies for each room - and, of course, the hot tub and bikes and everything! An added bonus - the sale comes with all future confirmed reservations and the established reservation software, Lodgify!

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