MI > New Buffalo > Mi
New Buffalo, MI 49117-1107,231 E Buffalo Street
New Buffalo, MI 49117-1107,231 E Buffalo Street
New Buffalo, MI 49117-1107,231 E Buffalo Street
New Buffalo, MI 49117-1107,231 E Buffalo Street
New Buffalo, MI 49117-1107,231 E Buffalo Street
New Buffalo, MI 49117-1107,231 E Buffalo Street
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Place Perfect Realty

Place Perfect Realty

+1(920) 956-9061
$ 1,325,000
Est. payment | /mo

5,100 SqFt

Save
$ 1,325,000
Est. payment | /mo
Save

5,100 SqFt

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

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Ellsbury Commercial Group
Place Perfect Realty

"Professional service to our clients & customers is our #1 priority. With offices in Marinette,  Green Bay Wisconsin and Menominee, Michigan, Place Perfect Realty provides real estate services to Northeast Wisconsin and Upper Michigan."

+1(920) 956-9061

homes@placeperfect.com

2056 Maple Ave, Marinette, WI, 54143-1713, USA

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231 E Buffalo Street