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Listed by Berkshire Hathaway Home Svcs
$8,900,000
Est. payment /mo
77 Baths
63,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Hospitality
Listing Status Active
Purchase Type For Sale
Square Footage 63,000 sqft
Price per Sqft $141
MLS Listing ID 1933235
Year Built 1993
Lot Size 2.290 Acres
Acres 2.29
Property Sub-Type Hospitality
Property Description
The Dunes Waterfront Resort is a rare opportunity to acquire a high-performing, turn-key waterfront hotel on the shores of Silver Lake, directly across from the iconic Silver Lake Sand Dunes and just inland from Lake Michigan. Known as the ORV mecca of the Midwest, Silver Lake attracts a loyal base of off-roaders and families. Tourism here is remarkably resilient, with demand largely unaffected by broader economic conditions. The resort features 74 spacious guest rooms, including 45 lake-facing units with private balconies. The top floor includes an indoor pool, game room, conference space, and kitchen—ideal for conversion to luxury suites or a food & beverage venue with dramatic views. A manager's office and apartment are adjacent to the front desk. Also included is additional land across the street with storage buildings, supporting hotel operations. The sandy beachfront parcel is conditionally approved for additional structures, allowing for future development such as a bar and grill or watersports rental operation, creating even more revenue potential. The property has been well maintained with a new roof and siding. Historically operated on a five-month seasonal basis, it supports a cap rate just under 10% at the asking price. A seasoned staff is in place, and the resort can be managed semi-passively or by a professional firm. As one of the only full-service lodging options in the area—and the highest standard in Silver Lake—the resort enjoys strong repeat business, rising ADR, and consistent cash flow. Offering includes real estate, FF&E, operations, and additional land. Financials available upon request. Please do not contact on-site staff directly.
Location
State MI
Rooms
Basement Walk-Out Access, Partial
Interior
Heating Forced Air
Exterior
Waterfront Description Private
Roof Type Asphalt
Garage false
Building
Foundation Slab
Sewer Private Sewer
Water Private
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