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Waterfront Tiki Beach Resort Restaurant Bar Banquet Bycampground For Sale

Campbellsport, Wisconsin
Asking Price:
$1,295,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$600,000 (USD)
Cash Flow:
$200,000 (USD)

Tiki Beach Resort is part of a 9 unit residential condo, campground, cabins, waterpark, watersports development. The Tiki Beach Resort (Restaurant, banquet hall, tiki bar and dining on the beach, 2 separate ac parking lot, along with the only boat launch on the lake...is all for sale and contained herewithin) features a 285 person banquet hall, 90 person front bar area, 50 person outdoor elevated breezeway seating area overlooking the beach and lake, and a beach tiki bar and dining area for 400+ on the fresh soft sand beach! Equipment is nearly 100% brand new (2 years old), as it the bar, flooring, LED lighting, walls, restrooms, parking lots, siding, seating, security, sound system, camera system, coolers, sinks, restaurant equipment, pontoon boats, piers, everything!... and decor, volleyball, beach, faux palm trees, and extensive renovations/landscaping (2.75 Million invested in all as part of the condo-campground development). This VERY profitable business was part of the overall condo and resort development. The developer is interested in selling this portion now that it is operational with professional management in place and the $200k profit can be easily shown and tracked...from register to the bank. There is just one residential condo available for an additional fee if someone is interested: 3BR, 1 bath, directly on the water. Incredible opportunity for an investor and or operator. This is turn-key. Currently operated as seasonal business (May-Sept with $600k in sales, and $200k profit after ALL expenses and even paying a FT mgr $50k a year). It certainly could be year round restaurant given the ice fishing, skiing, snow mobiles and winter events. The price includes restaurant building, furniture, fixtures, equipment, extra parking lot/land, and all licenses. The campground, cabins, water park and water sports business and assets would also be available if interested. Owner will hold 10-15% for the right buyer to help with lending. Owner will also do land contract with $400k down, $900k loan, 6%, payments of $7,500 per month, for 3 year period and then balloon payment. Building-land value is appraised at $800k. which means I am using a multiplier of only 2.5 years of profits for total sale price. This is a firm sale given the cash flow, but bring your options.

If interested, please contact the seller through the form on this page.

Property information

Real Estate:

Real Property Included

Living Accommodation:

There is one condo available for purchase, maybe two. All brand new, very high end luxury.

Location:

We are the area destination. We are 1 mile outside of Dundee, which is famous for motorcycle riders, Hamburger Haus, and the local Kettle Moraine State Forest, which we are adjacent to. We are 10 minutes outside of Fond Du Lac, 15 from West Bend, 25 from Sheboygan, 50 from Milwaukee.

Size in square feet:
4 acres, 12,000 sq ft
Planning Consent:

Operating and needs no additional permitting. Permits for restaurant/liquor go with business.

Business Operation

Expansion Potential:

Weddings, year round food-entertainment, inclusion of waterpark/campground/watersports business attached. There is room to build more condos, more camping, etc...

Competition / Market:

None. Maybe Wisconsin Dells, but that is 2 hours away. We pull from 3 main communities. We have grown 21,000 Facebook followers and thus, do not need advertising. We do typically 300-500 people every Saturday and Sunday...and now just added another 100 stall parking lot. We have not even been able to start up promoting weddings, which reportedly were booked every weekend decades ago when the structure was first built. This is has been a destination for over 30 years, and we took this operation and structure to another category for another 30 years.

Reasons for selling:

Seller was the developer for entire project (condos, campground, cabins, waterpark, water sports, and this restaurant, tiki bar, banquet hall, parking lots, etc...), and the plan was always for the developer to just hold a condo on the beach for future enjoyment. Seller wanted to establish the restaurant/tiki bar as successful business and prove operations and profits. Accomplished. Buyer knows he is selling cheep, based on profit, but understands he will not relax at the Tiki Beach Resort if he continues to own the business, despite full management. Thus, family says it needs to be sold. Financially it makes sense to keep it, but family wise it is time to transfer it and just enjoy the resort.

Trading hours:

May we are open weekends only (11am-10pm). Memorial Day Weekend we start 7 days per week from 11am till midnight, and end the season around Labor Day Weekend.

Employees:
1 main manager in off season, and 25 during the season, mostly returning staff
Years established:
2 seasons completed, and 3rd is just starting right now. Fully staffed

Other Information

Support & training:

Seller will stay on as adviser until all operations are transferred (2 months?) and available thereafter as needed for as long as buyer needs.

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

Seller will hold 10% to assist with bank financing or will do land contract with $400k down, 6%, $7,500 monthly payment, for 3 years with balloon.

Furniture / Fixtures value:
$125,000 (USD) - included in the asking price
Inventory / Stock value:
$25,000 (USD) - included in the asking price
Website:
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