For Auction
REO | Unencumbered Hotel & Waterpark – Dundee , MI
Dundee, MI 48131Represented by
JLL
Asset Snapshot
Offering Summary
Investment Highlights
- Fee simple interest in Splash Universe Resort, a 163-room, two building, full-service resort lodging facility offered at a substantial discount to replacement cost
- Brand options include Comfort Inn, Ramada, Trademark Collection, Red Roof Inn and Red Roof Plus
- Two buildings spanning 119,112 square feet with an unflagged hotel and indoor waterpark
- Shadow anchored by a Cabela’s whose average visitor drive 40+ miles and spends +/- 2.5 hours per visit giving the subject asset substantial traffic
- Property offered for sale in the March 23rd auction, as an opportunity to acquire a newly constructed asset in an exceptionally tight market of full-service resort lodging facilities
- Offered unencumbered of management, debt and flag
- Located in southern Michigan, the asset sits on US Highway 23 connecting the Detroit/Ann Arbor and Toledo metro areas
- New ownership will have the opportunity to increase ADR through service line enhancements, partnerships and marketing
- Recent $1.5 Million Dollar PIP completed in 2019
Property Overview
JLL is pleased to offer for sale the fee simple interest in Splash Universe Resort, a 163-room, full-service lodging facility consisting of an indoor water park and two unflagged hotels. The asset is situated nearly 90 miles from the nearest themed hospitality competitor giving the operator a monopolistic reach to all of the Detroit/Ann Arbor to Toledo corridor. The opportunity provides significant operational upside for prospective investors while acquiring the asset at a substantial discount to replacement cost.
Located in the southeastern corner of Michigan approximately 27 miles north of Toledo, Ohio and 58 miles southwest of Detroit, Dundee is part of the Monroe MSA. The asset is situated less than 40 miles away from the state’s busiest airport and has a population of 6.3 million people within 100 miles.
Due Diligence
Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
