231 E Buffalo Street, New Buffalo, MI 49117
sale
$1,325,000
|
Other
Courtesy Of Ellsbury Commercial Group
701 N Red Bud Trail, Buchanan, MI
A rare opportunity in the heart of Harbor Country-this fully turnkey short-term rental business has been owned and operated for over 30 years and is now ready for its next chapter. The sale includes the entire business operation: website, client list, booking database, furnishings, and decor-making it a true walk-in investment with immediate income potential. Current NOI: $146,258Asking Price: $1,325,000Cap Rate: 11%Annual Room Revenue: $251,000 Immediate Value-Add Potential The property currently operates at roughly 44% occupancy with an average nightly rate of $226. Our proforma is based on pushing occupancy to 50%, increasing nightly rates by 30%-a highly conservative adjustment compared to competitor pricing. Operating successfully for over three decades, this well-established hospitality business has a loyal returning customer base and consistent year-over-year performance. With modernized management systems, strategic rate optimization, and improved marketing, a new operator can significantly boost cash flow while maintaining stable demand. Completely Turnkey Everything is included in the salethe brand, website, reservation platform, furnishings, decor, and guest database. A new owner can step in and continue operations immediately, making this a seamless transition whether you're an experienced investor or new to the hospitality space. Location Advantage New Buffalo sits at the heart of Harbor Country, one of the Midwest's most desirable vacation destinations. Just 70 miles from Chicago, the area attracts hundreds of thousands of visitors every summer, with annual tourism spending exceeding $483 million in Berrien County alone. The property is within minutes of Lake Michigan beaches, boutique shops, restaurants, Four Winds Casino, and the Amtrak stationensuring steady short-term rental demand and high seasonal occupancy.
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Property Features
- Age: Over 50 Years Old
- Building Units: 6
- Cooling System: Central Air
- Exterior Type: Brick
- Exterior Type: Stone
- Heating System: Forced Air
- Legal Description: Per Title
- MLSID: 25059095
- Parking Spaces: 11
- Roof Type: Composition
- Rooms: Bathroom 6
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Basement
- Rooms: Bathroom 3
- Rooms: Bathroom 1
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