Castle in the Country

Allegan, Michigan

Asking Price: USD $2,995,000
Guest Rooms: 10    10
Owners Quarter: 12    4

Property Overview

The Castle in the Country Bed and Breakfast derives its name from the original building (built in 1906) which was nicknamed “the Castle” by locals…who live in the Country around the Inn. This unique hospitality property specializes in romantic getaways in rural southwestern Michigan and provides the opportunity for a variety of wonderful guest experiences.

The first building (“the Castle”) is a lovingly restored Victorian mansion featuring much of the original decor, but with the modern touches one would expect for a luxurious retreat. The second, was started in the 1980s as an artist’s retreat and then grown to include multiple guest rooms, event spaces, and a full commercial kitchen to serve a small restaurant that was present at the time. The current owners have done extensive renovations to both, and now the Inn features 10 rooms/suites with WiFi, jetted tubs, fireplaces, king or queen sized beds, and private baths and all the amenities a discerning guest appreciates.

The property also includes 65 private acres with a private lakeshore frontage, and includes kayaks and paddle boats for guest use along with walking trails through the wooded estate are available for snowshoeing in winter and hiking in the summer. Screened gazebos, porches, and an on-site spa offer additional attractions for guests. Large event space and some currently underutilized studio & living areas present resources for additional revenue. Finally, the property is zoned commercial, so there is plenty of room for future growth and expansion.

Centrally located between Chicago and Detroit – about a 2.5 hour drive from each – the Inn offers a convenient rural getaway from big city life. Grand Rapids, Michigan is less than an hour away. In the immediate area the nearby towns of Holland, Douglas, Saugatuck, and South Haven offer a wide variety of restaurants, breweries, wineries, and many other opportunities for outdoor activities. Provided to visitors in both hard copy and virtually through a guest app, this adventure map details many of the attractions available to guests.

About the Owner's Quarters

There are actually two areas where on-site owners and/or management staff can live comfortably, one in each building. In the Castle, there is a 2 bedroom, 2 bath apartment incorporated with the back-of-house areas (full kitchen and laundry facilities) which the sellers plan to freshen up with new flooring and some upgrades to the kitchen and bath. In the other building, there is a very large are that is currently configured as multi-bedroom, living areas, and baths, along with full kitchen…all at ground level with beautiful picture windows overlooking the lakefront. Plans and quotes are in process to turn some of this space into additional rental inventory, or it can be retained as owner and/or on-site manager’s quarters.

Features:
  • Has a Barn Barn
  • Waterfront Property Waterfront
  • Has a Wedding Venue Wedding Venue
Lifestyle:
  • Near the Beach Beach
  • Nearby Winery / Brewery Winery
  • Close to Fishing Fishing
Business Description:

This bed and breakfast Inn has shown consistent profits and excellent margins for many years, despite being a bit “off the beaten path” in a very rural location. Recent performance shows that even more growth is possible, for both lodging and ancillary revenue streams. Current marketing efforts have proven to be effective at keeping occupancy and ADR at very sustainable levels, and expense controls are in place that provide for a very healthy Cap Rate at the offered price of 10.4%.

Besides the established romantic couple’s getaway experience the Inn has established, the facilities are also well-equipped for destination weddings and corporate events and retreats, which represent a significant source of additional revenue. Finally, there is plenty of space for expansion for other ventures and activities.

Valuation & Mortgage Calculator:
30 Years Fixed
n/a % Interest
  • Loan Amount
  • Principle and Interest
  • Cash Flow
  • DSCR $0
  • Cap Rate $0
  • ROI $0
Listed By
Marilyn Bushnell (Broker)
  410-422-0013
Inns, B&Bs, and Unique Lodging

Sq Ft:

5,000

Owner's Quarters Sq Ft:

2,000

Acres:

65

Year Built:

1906

Last Renovated:

2004

Years in Business:

20
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Financial Overview

Asking Price:

USD $2,995,000

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