231 E Buffalo Street new Save Request In-Person Tour Request Virtual Tour
New Buffalo,MI 49117
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 5,100 sqft
Price per Sqft $259
MLS Listing ID 25059095
Full Baths 6
Year Built 1955
Annual Tax Amount $6,154
Tax Year 2024
Lot Size 0.630 Acres
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 décor—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, décor, 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. 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, décor, 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.
Location
State MI
County Berrien
Area Southwestern Michigan - S
Interior
Heating Forced Air
Cooling Central Air
Inclusions Real Estate, Furniture
Exterior
Utilities Available Phone Connected,Natural Gas Connected,Electricity Connected,Cable Connected,Storm Sewer
View Y/N No
Roof Type Composition
Building
Building Description Brick,Stone, Outdoor Storage
Structure Type Brick,Stone
New Construction No
Schools
School District New Buffalo
Others
Acceptable Financing Conventional,Cash
Listing Terms Conventional,Cash