Investment Overview

Marcus & Millichap is pleased to present The Esmeralda Inn, Restaurant & Spa, a 17-key historic boutique retreat along the Rocky Broad River at the gateway to Chimney Rock State Park, one mile from Lake Lure, and 30 minutes from Asheville, North Carolina. Originally established in 1892, the Inn is one of the only full-service hospitality structures of scale to survive Hurricane Helene intact, entering the recovery as the dominant lodging asset in a corridor where competitive supply has been dramatically reduced and meaningful new development is structurally constrained by mountain topography and protected land. The property is currently leased in its entirety to the civil engineering firm overseeing road reconstruction in Chimney Rock at $540,000 per year through March 2027, providing a new owner with immediate contractual income and no operational burden from day one. The tenant, which houses its entire operation out of the Inn has expressed interest in extending through project completion in summer 2028, and with no viable alternative facility, an owner is well-positioned to negotiate higher rent for any extension. The corridor is in active, well-funded recovery. Western North Carolina has received over $7.5 billion in state and federal relief funding. Chimney Rock State Park reopened in June 2025, Lake Lure is scheduled to reopen in May 2026, and the road project now underway is expected to fully restore access to the area by summer 2028. A new owner will acquire a debt-free asset on a clean renovation canvas, and may be positioned to access public recovery grants and historic preservation incentives to offset repositioning costs, with the lease providing a bridge to full stabilization as the market recovers.