View of Bull Shoals Lake from cabins 1 through
7, and from owner's porch
| Listing #4 - Small Resort
$495,000 |
- Lake View With Sunsets
- City Sewer Connected, City Water Available At Street
- 1.5 Acres, Room To Expand
- Swimming Pool
- 3 Bed 2.5 Baths 2,256sqft. Owner's Home
- 10 Rental Units With Room For More
- Close To Top Fishing Action, Restaurants, Shopping
- Strong Repeat Business With Good Growth Potential
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3 Steps For
More Information And Showings:
1. Phone Me with questions. I'll discuss financials and other topics with
you. Loan pre-qualification is necessary only if you decide to come for a showing.
2. Loan
Pre-Qualification is planning how to best finance a resort purchase - by
commercial loan, cash, or a 1031. I'll discuss these options with you when you call.
Pre-qual is necessary prior to showings. It is easy to do.
3. Showings By
Appointment Only. Appointments are the only way I can guarantee that I'll be
available when you come to town. I am rarely available on "spur of the moment".
Please phone me for showing appointments before you come to town! |
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Owner's home living room has wood burning
fireplace
Owner's Home
As small resort homes go, this is one of the nicest. It has a master bedroom with a full
bathroom, two additional bedrooms, a second full bath, and a 1/2 bath. Total heated and
cooled living space is 2,256 square feet. The living room has 12' high vaulted ceilings, a
wood burning fireplace, and insulated windows letting in plenty of natural light. This
home is clean, well maintained, and well laid out. Click owner's home
for photos and more details.Lodging
Because of its lake views, sunsets, and being so close to dining, shopping, fishing, and
entertainment, this resort gets business before many others during the low season months.
High season business is also very good with occupancy running at 98 to 100 percent.
Six buildings sit on approximately 1.5 acres of mostly flat land.
The ten rental units comprise five of the buildings, the sixth is the 2,256 square foot
owner's home. There is a swimming pool, the resort is connected to city sewer, and city
water is available at the street bordering the property. Cable TV is currently installed.
Cable and ADSL internet connections come to the property as well.
The resort has a total of ten rental units of which seven have lake
views from inside. All units are in good condition. All units except units 10 and 1 are
interconnecting suites. Unit 10 is a separate two bedroom cabin. Unit 1 is a two bedroom
apartment located in the walk-out basement under units 2 and 3. For photos and complete
details on all units visit the units pages.
Location
In my opinion this is one of the best resort locations you could have because it is so
close to the best of what the area offers. The resort is in the center of the City of Bull
Shoals, Arkansas. It is 5 minutes from the area's two best restaurants, and 10 minutes to
several more good restaurants. It is 5 minutes from public access to trout fishing on the
White River. It is 1 minute from the largest full service marina in Arkansas. |
7 of 10 units have lake views from inside. Due
to use of extreme wide
angle lens the lake looks further away in this photo than it really is.
Current Business Activity
Guests are primarily fishermen who come in the spring and fall, and families who come in
the summer. Nearly 70 percent of the current business is from repeat guests. This speaks
well for how the current owners treat their guests, and for how much guests like the
property. However, it also shows the upside potential for developing new business.The current owners are happy with their existing business level and so have
not aggressively advertised their resort. My personal opinion is that with about a $3,500
to $5,000 investment in additional advertising, gross sales would increase a good $30,000
a year above current sales.
Expansion Potential
Expansion refers to "growing" the annual gross sales by any number of ways.
Raise rates, offer value-added services, offer more rental boats, etc. There are many ways
to increase cash flow. However, with this property, because of the city water and city
sewer, you don't have the space limitations imposed by septic system and water well set
back requirements. As a result this is a good property for building more units. You can
also enlarge the existing units with ease. |
Lake Views
The property is on top of a low ridge some 130 feet in elevation above the lake surface,
which is typically about 650 feet above sea level. This elevated position and a southwest
exposure give guests and owners alike the opportunity to enjoy beautiful sunsets over the
water. Seven of the rental units have good lake views from inside. You can also enjoy the
lake views and sunsets from the screened porch of the owner's home.No Dock or Rental Boats
The property does not include a boat dock or rental boats because there are several good
public lake access points so close by. Guests who bring their own boat have several good
hard-surfaced launch ramps to choose from. Those who wish to rent a boat may do so at the
marina that is one minute away. The marina rents several types of watercraft. For those
who bring their own boats it is possible to rent a slip at the marina.
Competition
Within a 5 mile drive in either direction from the property are several other small
resorts and motels. While some operations do better than others year in and year out, all
of them profit because there is a high enough annual tourism count to fill most of the
operations. Bull Shoals is a well known destination. Therefore the secret to higher sales
is not so much in promoting the destination, but rather the individual operations within
it.
Fishing Tournaments
This part of Bull Shoals Lake holds the largest and best fishing tournaments in the Twin
Lakes area. This resort is the closest resort to the tournament starting and weigh in
point. Tournaments bring in quite a bit of spring business each year. If you enjoy
tournament fishing you'll be hard pressed to find a better location.
Attractions
While fishing and watersports are the main draw to the area, there are also several
non-fishing outdoor activities and attractions within a 30 minute drive. Dining, shopping,
bowling, entertainment, hiking, horseback riding, canoeing, and birding are all close by.
Owner's home
About This Site's Photographs
The interior photographs in this presentation make some of the rooms appear a little
larger than they really are. This is due to the use of an extreme wide angle lens. This
lens also makes the lake look further away than it really is. The advantage to the extreme
wide angle lens (14mm) is that it captures the whole room. |
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