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New Buffalo Inn 231 E Buffalo St 6 Room Hotel New Buffalo, MI 49117 $1,325,000 ($220,833/Room) 11.04% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Downtown New Buffalo Location
- Flexible Value-Add Opportunity
- Turnkey Hospitality Asset with Upside
EXECUTIVE SUMMARY
231 E. Buffalo St, New Buffalo, 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 décor—making it a true walk-in investment with immediate income potential.
Current NOI: $146,258Asking Price: $1,325,000Cap Rate: 11.04%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—and converting the existing spa into two additional one-bedroom units. With these simple operational improvements, NOI could approach six figures in additional income potential.
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: 11.04%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—and converting the existing spa into two additional one-bedroom units. With these simple operational improvements, NOI could approach six figures in additional income potential.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$251,000
|
$37.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$251,000
|
$37.10
|
| Taxes |
$6,154
|
$0.91
|
| Operating Expenses |
$98,588
|
$14.57
|
| Total Expenses |
$104,742
|
$15.48
|
| Net Operating Income |
$146,258
|
$21.62
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $251,000 |
| Annual Per SF | $37.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $251,000 |
| Annual Per SF | $37.10 |
| Taxes | |
|---|---|
| Annual | $6,154 |
| Annual Per SF | $0.91 |
| Operating Expenses | |
|---|---|
| Annual | $98,588 |
| Annual Per SF | $14.57 |
| Total Expenses | |
|---|---|
| Annual | $104,742 |
| Annual Per SF | $15.48 |
| Net Operating Income | |
|---|---|
| Annual | $146,258 |
| Annual Per SF | $21.62 |
PROPERTY FACTS
AMENITIES
- Public Access Wifi
- Smoke-Free
- Hot Tub
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 6 | $165.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 11-62-0010-0010-07-7 | Total Assessment | $384,600 |
| Land Assessment | $0 | Annual Taxes | $6,154 ($0.91/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
11-62-0010-0010-07-7
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$384,600
Annual Taxes
$6,154 ($0.91/SF)
Tax Year
2025
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New Buffalo Inn | 231 E Buffalo St
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