Historic Opportunity: 1000 Islands Inn for Sale Step into a piece of history with the 1000 Islands Inn, a distinguished property that has welcomed guests from around the world for decades. This iconic inn has been a cherished destination for notable figures, including: Admiral Richard Byrd, the first American to reach the South Pole Maxine Andrews of the popular Andrews Sisters singing team Country & Western legends Johnny & June Carter Cash, Loretta Lynn, and Conway Twitty Sports celebrities like baseball greats Warren Spahn and Boog Powell, and basketball Hall of Famer Al Cervi National fishing celebrities Orlando Wilson, Roland Martin, Larry Nixon, and Babe Winkelman Actor, singer, comedian, and avid angler Foster Brooks This storied property offers a unique opportunity to own a piece of hospitality history, with a legacy of renowned visitors and a reputation as a beloved destination for fishermen and celebrities alike. Additionally, the 1000 Islands Inn presents a remarkable investment opportunity. Potential historic tax credits are available for those looking to restore this property to its former glory, offering significant financial incentives for rehabilitation efforts. Overview with Potential Historic Tax Credit: Property Overview: Location: Clayton, 1000 Islands, NY Property Type: Historic Inn Total Rooms After Renovation: 20 rooms, converted to an Airbnb hotel model Renovation and FFE Costs: Total Renovation Costs: $1,862,700 ($175/sq ft renovation costs) Potential Historic Tax Credit (50%): -$931,350 (subject to eligibility and approval) Effective Renovation Costs After Potential Tax Credit: $931,350 (if credit is approved) Furnishings, Fixtures, and Equipment (FFE): $400,000 Total Effective Project Costs Assuming Tax Credit Approval: Effective Total Costs After Potential Tax Credits: $931,350 (Renovation) + $400,000 (FFE) = $1,331,350 5-Year NOI Projections: Assuming an Average Daily Rate (ADR) of $175 and an occupancy rate of 45%: Year Gross Operating Income Net Operating Income (NOI) 1 $574,875 $373,669 2 $586,373 $381,142 3 $598,100 $388,765 4 $610,062 $396,540 5 $622,263 $404,471 Don't miss your chance to continue the legacy of the 1000 Islands Inn.