One of the longest running hotel on Chincoteague Island , located on Main Street just minutes from the famous wild ponies on the nearby wildlife refuge, will be sold at auction on April 5th, according to Doug Marshall of Allen Marshall Auctioneers and Appraisers.
The Lighthouse Inn, located at 4218 Main Street in the resort town made famous by the children’s book Misty of Chincoteague, includes 16 guest rooms, a pool with heated spas, and a screened porch for cookouts and entertaining. This well-maintained property also has a newly renovated apartment for the owner/manager to live.
“This is a landmark in Chincoteague and we are proud to be able to offer this property to the highest bidder,” said Marshall, whose auction business has recently expanded to Somerset County and the Eastern Shore of Virginia. “We are honored to get the opportunity to find the right bidder for this historic property.”
The hotel, run for a long time by the same family, boasts a long list of loyal customers who come to the island to vacation every year. This turn-key operation is ideal for a younger couple looking to relocate or for someone looking to retire to this resort town but keep a solid income stream.
The auction will take place on site on April 5th at 1:01 pm. A buyer’s premium of 3.5 percent of the bid price will be paid, and the company will offer agents and brokers a 2 percent commission to represent a buyer. For more details, visit www.AMAuctions.com or call (410) 835-0383 or send an email to Doug@MarshallAuctions.com.
