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Tiki Beach Resort Rentals Campground, Waterpark, Rentals, Store For Sale

CAMPBELLSPORT, Wisconsin, US
Asking Price:
$175,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$200,000 (USD)
Cash Flow:
$50,000 (USD)

This is the first time this company has been offered.

Tiki Beach Resort Rentals entails the following streams of income:

Campground (6 dependent glam cabins + 2 RV sites w/ electric)
Private Beach Rental areas (2 cabanas, 2 vip party tiki huts)
Inflatable Water Park (in the lake inflatables)
Rental Boats (2 pontoon boats, 7 Kayaks, 9 paddle boards, 2 paddle boats)
Convenience Store and Beach Gift Shop (selling sunscreen, snacks and drinks)

This boutique seasonal business generates about $175-200k of income per year, and generates a profit of approximately $50k per year, after 100% of turn-key expenses.

There are $200k in hard assets (all purchased within 1-3 yrs):
$120k in cabins
$20k in tiki rental huts
$5k in tiki cabanas
$25k in store (commercial condo)
$25k campground showers & restrooms
$5k inventory
$5k in non-motorized boats
$15k in motorized boats
$15k in inflatables

A typical business like this sells for a multiple of 3-4x of gross profit, plus assets. Thus, it should be $200k, plus about another $150-$200k.

I just sold the Tiki Beach Resort bar, restaurant and banquet hall 4 weeks ago, and this is the last part I need to sell. I am willing to let this go two different ways:

1. without the land purchase and a sale price of $175k (less than actual hard assets and no value given to the profit/business). You then would rent the land from me for $1,000 per month until you are ready to purchase it.

2. with the land (which is about 1 ac of beach front land), appraised at $200k, but I will sell this land for an additional $150k...thus, a total sale price of $325k.

With the land value, I think the commercial condo with the land will appraise at $250k, and I would be willing to hold a 2nd mortgage note for the $50k...thus, you would need $25k down with a bank loan.

I will also do a rent-to-own IF someone has at least $40k they can put down, whereby, I treat the rent you pay ($2,200) per month just like a mortgage note payment...whereby, part of your rent payment goes towards the reduction of purchase price (e.g. $325k - $40k = $285k buyout option...and after each rent payment another $200 comes off that buyout option price. This can be a 1, 2, 3 year option so in 3 years you could purchase (payoff) the remaining $277,800.

I am open to discussing other options and trades. I still have a condo at Tiki Beach Resort, and this was my plan from day 1...build an incredible condo complex that looks like Key West or the islands...show proof of concept and an incredible business...sell it...and sit on the beach.

The resort is basically brand new (3 years old), and it is as close to key west and the islands as you can get, with hundreds of feet of white soft sand, corral boulders, full size faux palm trees, new luxury showers/bathrooms, new water supply system (iron filtered and softened), and a TON of parking, atmosphere, etc... I spent over 3.5 million building this condo complex- resort, and it is the perfect place for this campground. There is room to expand to a very large campground by purchasing just one lot across the street (100+ sites), which includes another lake. I do not own that lot, but the seller said maybe $290k with the home on it.

Just look at facebook Tiki Beach Resort and you will see we have over 24k followers and a 5 star rating. We are very profitable and it is turn key with just 2...yes 2 staff members!

Property Information

Real Estate:

Real Property Included

Living Accommodation:

none

Location:

Prime waterfront and beach front property on Kettle Moraine Lake

Premises Details:

You are purchasing Condo #12 within KML Condominium Association, PLUS the business and assets. The land where the cabins sit can be purchased also. see description

Planning Consent:

We have operated 3 seasons now...and are in our 4th season

Business Operation

Expansion Potential:

one could purchase land across the street and add 100+ campsites. Otherwise, we just will grow a bit in our inventory and popularity. I think we could grow may be 15% yet.

Competition / Market:

none. There is nothing like it. Other camp grounds in the area are Kettle Moraine State Campground, Mauthe Lake Campground. We are so unique there is nothing like it. We have Fond Du Lac Aqua Park about 20 mins north of us. The Sheboygan Quarry is about 25 minutes to the east.

Reasons for selling:

It was part of my plan to develop the condo resort, and then sell the businesses. They both have been very profitable, but it is time for me to step back. I just sold the bar-restaurant, and thus, this is the last piece i need to sell in order to simply have my condo on the beach here at Tiki Beach Resort.

Trading hours:

10am until 7pm

Employees:
2
Years established:
2017

Other Information

Support & training:

I will be happy to train and support, but the 2 main staff members run 98% of the show.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

With $40k down, one can come in with a rent to own operation. Call for details.

Furniture / Fixtures value:
$220,000 (USD) - included in the asking price
Inventory / Stock value:
$5,000 (USD) - included in the asking price
Website:
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