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Hotel-Motel

ParkShore Resort

1401 US-31, Traverse City, MI 49686

Listing Price: $15,500,000

Cap Rate
7.74%
Number of Rooms
80
RevPAR
$75
Gross SF
53,213
Price/Room
$193,750
RRM
7.09
Price/Gross SF
$291.28
Year Built
2000

Investment Overview

Capitalizing on a restaurant, bar, wine tour, and wedding revenue streams, this property has proven stable revenue growth rising from 2016 to current with gross revenue at $2.7M to an annualized $3.0M respectively. This appreciation is also in line with net income and is a reflection of the distinct value the ParkShore Resort offers tourists looking to indulge in the Northern Michigan vacation experience.With potential updated interior and exterior renovations, this resort is able to continuously capture leisure, corporate, and tourist guests with its waterfront edge, location within Traverse City, and various amenities. The regional tourism industry continues to benefit greatly as Grand Traverse County remains among the top counties for visitor spending.

Investment Highlights

  • Eighty-Room, Four-Story, Interior Corridor Property with Restaurant
  • Multiple Revenue Streams, Acquiring a Property with Great Name Recognition
  • Ability to Increase Occupancy and ADR to Allow for Enhanced Market Penetration

Exclusively Listed By

Listing Price: $15,500,000

Cap Rate
7.74%
Number of Rooms
80
RevPAR
$75
Gross SF
53,213
Price/Room
$193,750
RRM
7.09
Price/Gross SF
$291.28
Year Built
2000

Investment Highlights

  • Eighty-Room, Four-Story, Interior Corridor Property with Restaurant
  • Multiple Revenue Streams, Acquiring a Property with Great Name Recognition
  • Ability to Increase Occupancy and ADR to Allow for Enhanced Market Penetration

Investment Overview

Capitalizing on a restaurant, bar, wine tour, and wedding revenue streams, this property has proven stable revenue growth rising from 2016 to current with gross revenue at $2.7M to an annualized $3.0M respectively. This appreciation is also in line with net income and is a reflection of the distinct value the ParkShore Resort offers tourists looking to indulge in the Northern Michigan vacation experience.With potential updated interior and exterior renovations, this resort is able to continuously capture leisure, corporate, and tourist guests with its waterfront edge, location within Traverse City, and various amenities. The regional tourism industry continues to benefit greatly as Grand Traverse County remains among the top counties for visitor spending.

Exclusively Listed By

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