231 E Buffalo Street, New Buffalo, MI 49117 (MLS# 25059095)

231 E Buffalo Street, New Buffalo, MI 49117

$1,325,000

Property Type: Commercial Sale Square Footage: 5,100 Lot Size (sq. ft.): 27,443 Status: Active

Current Price: $1,325,000 List Date: 11/19/2025 Last Modified: 11/19/2025

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.

Supplements: 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.

More Information MLS# 25059095

Location & Property Info

Cross Streets: S Norton St Property Sub-Type: Business Opportunity Municipality: New Buffalo City

Office/Contract Info

Auction or For Sale: For Sale List Price/SqFt: 259.8 Prop Avail for Lease?: No Current Bldg Use: Inn

General Property Info

New Construction: No Lot Dimensions: Irregular Road Frontage: 120 Mineral Rights: Unknown Waterfront: No Total # Units: 6 # of Diff Unit Floor Plans: 6 Total # Bldgs: 3 # Fin Bldg Lvls: 4404 Total SqFt: 5100 School District: New Buffalo Lot Measurement: Acres Lot Acres: 0.45 Lot Square Footage: 27443 Year Built: 1955 Full Baths: 6

Tax Info

Taxable Value: 138434 SEV: 384600 For Tax Year: 2024 Seller's Annual Property Tax: 6154 Tax Year: 2024 Homestead %: 0 Spec Assessment & Type: None Known - BTA Non-Conforming Use: No Zoning: commercial Tax ID #: 11-62-0010-0010-07-7

Remarks & Misc

Public Remarks: 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. Legal: Per Title

Waterfront Options

Water Access Y/N: No

Water Fea. Amenities

All Sports: 1 Public Access 1 Mile or Less: 1

Additional Details

Total Parking Spaces: 11

Street Type

Paved: 1 Public: 1

Utilities Attached

Cable Connected: 1 Electricity Connected: 1 Natural Gas Connected: 1 Phone Connected: 1

Sewer

Public Sewer: 1

Water

Public Water: 1

Uses

Professional Service: 1 Professional/Office: 1 Retail: 1 Other: 1

Construction Type

Block: 1

Exterior Material

Brick: 1 Stone: 1

Roofing

Composition: 1

Heat Source

Natural Gas: 1

Sale Conditions

None: 1

Ownership

LLC: 1

Below Grade

Basement: 1 Partial: 1

Heat Type

Forced Air: 1

Air Conditioning

Central Air: 1

Docs at List Office

Aerial Photo: 1 Plat Map: 1

Business Includes

Furniture: 1 Real Estate: 1

Additional Features

Outdoor Storage: 1

Util Avail at St

High Speed Internet: 1 Storm Sewer: 1

Driveway

Shared Unpaved: 1

Docs Req Conf Agrmnt

Financials: 1

Purchase Terms Avail

Cash: 1 Conventional: 1