Stefan's R & R Resort | 4497 S US Highway 23
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Stefan's R & R Resort 4497 S US Highway 23
26 Room Hotel Greenbush, MI 48738 £1,408,410 (£54,170/Room) 4% Net Initial Yield
Investment Highlights
- Diverse Accommodations: 16 Cabins, Eight Beachfront Suites, Catering to Varied Guests.
- Prime Location: Near Aerospace Development, Family-Oriented Tourism, Ensuring Market Growth.
- Strong Financials: Anticipated 2024 Revenue $200 Thousand, with Steady NOI.
Executive Summary
The Stefans R&R Resort is ideally located in Alcona County, nestled just seven miles north of Oscoda, Michigan, and easily accessible via the scenic US-23 Highway. This expansive property covers 4.37 acres, featuring 300 feet of pristine sandy beachfront along Lake Huron. The resort is renowned for being the largest in Greenbush, boasting a total of 24 units including two studio cabins, two one-bedroom cabins, eight two-bedroom cabins, four three-bedroom cabins, eight luxury beachfront suites, and a master home suitable for leasing or housing the new owner.
Greenbush is situated approximately 3.5 hours north of Detroit, making it an accessible escape into nature for those in the metropolitan area. This strategic location offers a plethora of on-site and nearby activities ranging from beach sports to snowmobiling, catering to guests’ diverse interests and making it a versatile
The resort's unique appeal is further enhanced by the rising trend of "Glamping," attracting a significant niche market seeking luxurious camping experiences. With its well-appointed accommodations, Stefans R&R Resort caters to this demand, providing an upscale outdoor vacation option. Furthermore, the region's development, including the Oscoda-Wurtsmith Airport's selection for a future aerospace launch facility, points to increased business and leisure travel potential, promising additional growth opportunities for the resort.
Investors have the chance to capitalize on Stefans R&R Resort’s established reputation, operational efficiencies, and the significant upside potential evidenced by its impressive NOI margins. Expanding the resort's online presence and extending operational seasons could unlock new revenue streams, making this an exceptional investment opportunity in Michigan's thriving hospitality market.
Greenbush is situated approximately 3.5 hours north of Detroit, making it an accessible escape into nature for those in the metropolitan area. This strategic location offers a plethora of on-site and nearby activities ranging from beach sports to snowmobiling, catering to guests’ diverse interests and making it a versatile
The resort's unique appeal is further enhanced by the rising trend of "Glamping," attracting a significant niche market seeking luxurious camping experiences. With its well-appointed accommodations, Stefans R&R Resort caters to this demand, providing an upscale outdoor vacation option. Furthermore, the region's development, including the Oscoda-Wurtsmith Airport's selection for a future aerospace launch facility, points to increased business and leisure travel potential, promising additional growth opportunities for the resort.
Investors have the chance to capitalize on Stefans R&R Resort’s established reputation, operational efficiencies, and the significant upside potential evidenced by its impressive NOI margins. Expanding the resort's online presence and extending operational seasons could unlock new revenue streams, making this an exceptional investment opportunity in Michigan's thriving hospitality market.
Property Facts
| Price | £1,408,410 | Lot Size | 3.17 AC |
| Price Per Room | £54,170 | Building Size | 5,000 SF |
| Sale Type | Investment | No. Rooms | 26 |
| Net Initial Yield | 4% | Number of Floors | 2 |
| Property Type | Hospitality | Year Built | 1950 |
| Property Subtype | Hotel | Parking Ratio | 7.2/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Price | £1,408,410 |
| Price Per Room | £54,170 |
| Sale Type | Investment |
| Net Initial Yield | 4% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.17 AC |
| Building Size | 5,000 SF |
| No. Rooms | 26 |
| Number of Floors | 2 |
| Year Built | 1950 |
| Parking Ratio | 7.2/1,000 SF |
| Corridor | Exterior |
Amenities
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 26 | £126.76 | - |
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zoning
| Zoning Code | R-3 (Special Use Hospitality) |
| R-3 (Special Use Hospitality) |
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Stefan's R & R Resort | 4497 S US Highway 23
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