2317 Summit Lake Shore Road Northwest

Olympia, Washington, États-Unis

La Description

Introducing The Castle at Summit Lake, a one-of-a-kind 7,500 sq ft, three-story lakefront estate delivering architectural grandeur and commercial potential. Nestled on over an acre of pristine Summit Lake shoreline, this fully operational luxury short-term rental (STR) functions as a turn-key business and hospitality platform with unrivaled potential for weddings, corporate retreats, wellness experiences, and high-end vacation rentals. The Castle accommodates up to 24 guests across seven bedrooms and seven bathrooms, with an additional guest cabin sleeping six more. Guests enjoy direct access to a deep freshwater lake with a sandy beach and private dock, along with amenities such as a nine-person lakeside hot tub, media and arcade rooms, billiards, a poker turret, expansive patios, a firepit, outdoor dining for 16+, and a dedicated bar room with seating for 14. Modern conveniences include A/C, high-speed internet, and Smart TVs throughout. Professionally managed and evaluated by StayLux, the property’s projected gross revenue for year one is $612,420, with a projected NOI of $467,178 and a cap rate of 7.8% based on the $5.99M asking price. The five-year projected NOI exceeds $575,000. The Castle currently hosts weddings and micro-weddings with romantic lakefront views, family reunions and retreats designed for large groups, corporate retreats with breakout spaces and connectivity, wellness retreats with serene spaces for yoga and mindfulness, and culinary or wine events with chef’s dinners and branded experiences. Lakeside amenities include a large dock with paddleboards, pedal boat, kayak, curated lake toys, seating for 20+ guests on the semi-sandy beach, a semi-covered patio with BBQ, an expansive lawn, and an indoor/outdoor bar with a second fridge, dishwasher, and glassware service for entertaining. Located just five minutes from WA-8/Hwy 101 in West Olympia, 20 minutes to downtown Olympia, and about an hour to SeaTac Airport, Ocean Shores, and Olympic National Forest, it provides quick access to both local services and regional attractions. With only nine STRs within 60 miles that can host 16+ guests with lake access—and zero direct STR competitors on Summit Lake—this property holds a luxury positioning in an underbuilt hospitality market. The Castle at Summit Lake is more than a luxury property; it is a rare, cash-flowing hospitality brand in the making, ideal as a legacy asset, luxury event venue, or centerpiece to any STR portfolio.