Resort for Sale in Wisconsin – $1,650,000

MLS # 1811652: Confidential Wisconsin Northwoods Resort with 9 rental cabins and a very nice restaurant / bar on a navigable lake located in northern Wisconsin. All cabins are as like new as they come and the restaurant – bar is a real money maker. No confidential information will be shared unless proof of funds and / or a pre-approval letter are provided with a signed confidentiality agreement. This is an excellent resort at a fair price. Serious inquiries only please.

The valuation for this resort is based on several approaches.

  1. The real estate alone has a current appraised value of $1,500,000. The owners spent over $172,000 after purchasing the property on new equipment. (The insurance replacement value of all business personal property / equipment is $782,500). The appraised value of all of the business personal property / equipment is $471,900. When we add the appraised value of the real estate to the value of the equipment, we get a total valuation of $1,971,900.

 

  1. The 2017 P & L statement (only through November) shows that the owners spent $172,000 on capital improvements in 2017. If we remove the $172,000 from the equation and only subtract the remaining $137,877 from the Gross Profit, we get a Net Profit of $129,263. Using a capitalization rate of 10%, this provides a valuation of $1,292,630. This appears low compared to the listing price but you need to consider that there is a full month of income missing as well as the trend of increased income that will be shown in the Projections in valuation below.
  2. The following changes should significantly increase the income for 2018.
    1. Weekly cabin rental rates are increasing $3,825 / week. We project this will increase the annual gross cabin rental by about $46,000 in 2018 based on the same occupancy rate from the 2017 season.
    2. The owners are implementing a new pontoon rental program that will add a projected $20,000 in gross income. Based on 2017 boat expenses, this will equate to an additional Net Profit of about $14,000.
    3. The restaurant was not open in the winter of 2016 / 2017 so people were not used to coming there. The owners are providing great food and drinks and that business continues to increase noticeably. The owners are also sponsoring several events that should bring in significantly more income as well. We are projecting a 25% increase in food and beverage sales for 2018. This should bring equate to an increase in gross income of over $90,000. Based on 2017 margins, this will equate to an additional Net Profit of about $61,200.

The total projected increase in Net Profit for 2018 is about $121,200. If we add that to the Net Profit for 2017 ($129,263 + $121,200 = $250,463) and use the same capitalization rate of 10%, we get a valuation of $2,504,630.

The owners also have approval to add an 8-unit lodge to the property. There is certainly some value to have the room and the approval for such an addition.

There could also be an option to plat the cabins as condos and sell them. They should average at least $125,000 / each x 10 = $1,500,000. You would still have the restaurant / bar and the option to add 8 more units for rental.

As a side note, one of the 3 bedroom cabins is remote from the other rentals and could be easily used as a managers or owners living quarters.

Adult Sexual Freedom Campground For Sale in Wisconsin – $2,169,000

NCN (No Clothing Necessary) Campground is a sexual freedom campground with an impressive income. The owner has been investing most of the income back into the property for several years and the buildings and equipment are all like new. There are about 80 campsites and 24 cabins / a café / pond / 2 outdoor stages / 1,456 sq. ft. 3 bed, 1 bath home / 60′ x 152′ , 3-story building know as “Party Central” that houses a bar, retail store, activity area, stage, and lots of seating just on the ground floor. There is a total of 57 acres and this is a very profitable business. Website: http://www.campncn.com

SOLD – Wildwood Resort / Campground – Chetek Wi. – $1,500,000 – SOLD

  1. Wildwood Resort in northern Wisconsin is located on the Chetek Chain of lakes and these owners have been providing loyal customers with “A Vacation Worth Taking” for the past 35 years.  With 1150′ of frontage on Prairie Lake, Wildwood Resort offers; 97 campsites (metered and sewered) 11 cabins, boat launch, enough docks for everyone, 3 bedroom loving quarters, 20 x 40 pool, bath/shower house, fish cleaning house, playground, horseshoe pits, ping pong, basketball, video arcade, and a gift shop/general store.
    Wisconsin Campgrounds for Sale will assist you with any questions regarding this Wisconsin Wildwood Resort for sale.  Please contact Lisa or Paul for more information on this Wildwood Resort listing or any other campground, RV Parks or Resorts for sale you see listed.

SOLD for $2,450,000 – Bonanza Campground Wis. Dells – $2,750,000

Bonanza Campground is located in the heart of some of the most valuable land in Wisconsin Dells. 200 sites – most with City Water & Sewer / some year round mobile homes / Office / Game Room / Kitchen / Bath House & a 1 bedroom apartment. Amenities include a 60 x 30 Pool / Mini Golf / Picnic & Playground Areas. Just a short walk to Noah’s Ark, Mt Olympus & other Wis Dells attractions. Located on 29+ acres with 15 undeveloped acres. There is also an adjoining 3 bd / 2 ba. home & a 40′ x 80′ shed available.  Contact Paul or Lisa at Wisconsin Campgrounds For Sale for more information on this Bonanza Campground or any of our campgrounds, resorts or rv parks for Sale.

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