80 Unit Lakefront Resort in the Heart of Traverse City

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Asking Price:
$16,000,000

Gross Revenue:
 Not Disclosed
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$30,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

Join Traverse City’s booming tourism industry with this lakefront resort. Praised by reviewers as having a professional and accommodating staff, great food, and a perfect event space, this resort makes the most of its location. 80 spacious units are divided into beachfront, courtside and park-facing rooms for guests to relax and refresh between trips to the onsite cocktail lounge or indoor pool and spa.

About the Business

Location:
Traverse City, Michigan
Year Established:
2000
Number of Employees:
30
Real Estate:
Owned
Building Sq. Ft.:
53,213
Facilities:
This gorgeous lakefront business includes 80 spacious units, a casual cocktail lounge, and 450 ft of beach. Everything guests want or need is just an elevator ride away. Romance is in the air with a breezy gazebo and wedding reception area just steps away from the calming waves. The resort also features a spacious meeting room that seats 35, a heated indoor pool and spa, guest laundry, and full menu room service. The guest room mix breaks down to 5 luxurious whirlpool suites, 2 romantic whirlpool rooms, and 3 family-friendly efficiency suites (which include a full-sized fridge and stove). With 44 beachfront, 24 courtside, and 12 park-facing rooms, every guest can find a view they love waking up to.
Website:
parkshoreresortforsale.com
Market Outlook/
Competition:
Traverse City, known best as the four-season playground, draws in tourists with high-quality food, wine, and culture. It’s ranked as one of five top foodie towns in the US, and it’s one of three emerging beer towns. This resort is the perfect landing pad for guests to enjoy everything from the town’s annual week-long National Cherry Festival to hiking at Sleeping Bear Dunes. Guests staying at the resort can also sail, kayak, golf and scuba dive in the summer and ski, snowboard, and snowmobile in the winter. There’s no shortage of profitable events for a new owner to take advantage of with this resort.
Growth & Expansion:
The new owner has ample room for growth and expansion. The facility provides a fantastic space for family and business events. Traverse City’s tourism industry is a top contributor to the area economy and has generated an increase in spending and employment over the last decade. A new owner could advertise alongside Traverse City’s many tourism events, like the annual Traverse City Film Festival, to attract and delight tourists.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Owner will provide training and support for a smooth transition. PLEASE BE ADVISED: PRIOR TO THE RELEASE OF ANY CONFIDENTIAL INFORMATION, THE SELLER REQUIRES ALL BUYERS TO DISCLOSE THEIR FINANCIAL QUALIFICATIONS THROUGH COMPLETION OF A CONFIDENTIAL BUYER QUESTIONNAIRE ALONG WITH A NON-DISCLOSURE AGREEMENT. SELLER’S APPROVAL OF SAME IS REQUIRED BEFORE CONFIDENTIAL INFORMATION IS RELEASED. PLEASE CONTACT OUR OFFICE FOR THE FORMS AT 800-636-7046
Seller Financing:
Seller will consider some financing for a qualified buyer.

Listing Info

ID:
1546426
Ad Detail Views:
852

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Business Listed by

Dan Replogle, CBI, CBC, CCIM, M&AMI

Midwest Business Brokers Inc.

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