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$1,325,000
Est. payment /mo
5,100 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 5,100 sqft
Price per Sqft $259
Subdivision Mi
MLS Listing ID 70505745
Year Built 1955
Annual Tax Amount $6,154
Tax Year 2024
Lot Size 0.450 Acres
Acres 0.45
Lot Dimensions Irregular
Property Sub-Type Business
Property Description
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: $251,000Immediate Value-Add PotentialThe 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.
Location
State MI
County Berrien
Area New Buffalo (11037)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Parking Features 11-20 Spaces
Roof Type Composite
Building
Foundation Basement
Structure Type Block,Brick,Stone
Others
Ownership LLC
Energy Description Natural Gas
Financing Cash,Conventional
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Ellsbury Commercial Group
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