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Ohio Treehouse Resort Business for Sale – Full Breakdown

26 snips
Jan 27, 2026
A $10.5M luxury treehouse resort in Ohio gets a full breakdown, from 135 forested acres and river frontage to multiple elevated cabins and spa-style amenities. The hosts probe missing financials and possible distress. They debate valuation approaches, event and retreat revenue potential, and risks tied to Airbnb dependence, seasonality, staffing, and regulatory exposure.
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INSIGHT

Red Flags From Missing Financials

  • The listing hides revenue and unit counts, which is a red flag for distress or strategic obfuscation.
  • Bill D'Alessandro warns missing financials often mean the asset is either underwater or exceptionally successful.
INSIGHT

Short-Term Rental Boom Then Bust

  • Short-term rental portfolios peaked during COVID and many owners are now underwater due to rate resets and falling demand.
  • Mills Snell and Bill argue financing and occupancy risk dominate the economics of these builds.
INSIGHT

Valuation Ambiguity: Real Estate Versus Business

  • Valuation can swing between real estate comps (land + cabins) and operating business multiples, creating big price ambiguity.
  • Bill stresses cap-rate logic; a $10.5M ask implies outsized annual NOI to justify the price.
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