Property Overview

  • Room Count (total) 32 units
  • Years Built 1960, 1967
  • Buildings 2 total
  • Corridors Exterior
  • Total Parcel Size 0.7798 acres
  • Roofs Pitched, Flat rubber
  • HVAC Individual PTAC units
  • Amenities Heated in-ground pool, private beach, manager suite, 3-bed, 2-bath penthouse

  • Motels are located 0.2 miles away from one another, both along the highly sought-after Geneva-on-the-Lake Strip.
  • Pete’s Motel includes a 2,000-square foot penthouse with 3 beds and 2 baths. Penthouse could be used as an owner suite or used as a short-term rental.
  • Both properties are run 5 months of the year and have potential for year-round operation.
  • Both properties have been extensively renovated, including new mattresses (2021), vinyl plank (2021), metal roof (The Palms - 2023), flat rubber roof (Pete’s - 2021), washers & dryers (2021), and HVAC (2022).
  • Located in a highly renowned resort location, which attracts 19.5 million visitors and $520.7 million in tourism-related spending each year.
  • While the area thrives on summer season tourism, other attractions, including wineries, arcades, and an 18-hole golf course, supply demand throughout the year.

Financial Performance

Room Revenue (total) $357,075
Occupancy (combined) 45.9%
ADR (combined) $158.98
RevPAR (combined) $72.93
NOI $199,597
Capitalization Rate 8.3%