Introducing The Castle at Summit Lake — a one-of-a-kind, 7,500 sq ft, 3-story lakefront estate that delivers both architectural grandeur and commercial potential. Nestled on 1+ acres of pristine Summit Lake shoreline, this fully operational, luxury short-term rental (STR) is more than a property; it's a turn-key business and hospitality platform with unrivaled potential for weddings, corporate retreats, wellness experiences, and high-end vacation rentals.

PROPERTY HIGHLIGHTS

• 7,500 sq ft luxury lakefront Castle with capacity for 24 guests

• 7 bedrooms / 7 bathrooms + additional guest cabin (sleeps 6 more)

• Direct access to deep freshwater lake with sandy beach and private dock

• 9-person lakeside hot tub, media & arcade rooms, billiards, poker turret, and more

• Expansive patios, firepit, outdoor dining for 16+, and a dedicated bar room with seating for 14

• Equipped with A/C, high-speed internet, Smart TVs, and modern conveniences

CURRENT PERFORMANCE & PROJECTIONS

• Professionally managed and evaluated by StayLux (luxury STR firm)

• Year 1 projected gross revenue: $612,420

• Year 1 NOI: $467,178

• 5-year projected NOI: $575,000+

• Cap Rate (Yr 1 NOI / $5.99M): 7.8%

HOSPITALITY ASSET & BUSINESS POTENTIAL 

The Castle is already actively hosting:

• Weddings & Micro-Weddings: Outdoor settings, firelit patios, and romantic lakefront views

• Family Reunions & Retreats: Designed for large groups with private and communal zones

• Corporate Retreats: Breakout spaces, connectivity, and natural surroundings for team building

• Wellness Retreats: Serenity, seclusion, and space for yoga, mindfulness, or luxury detox

• Culinary & Wine Events: Host chef's dinners, wine pairings, and branded experiences

LAKESIDE AMENITIES & EXPERIENCE DESIGN

• Large dock with paddleboard, pedal boat, kayak, and curated lake toys

• Lakeside seating for 20+ guests with a semi-sandy beach

• Semi-covered patio with BBQ + expansive lawn

• 9-person hot tub with elevated views

• Indoor/outdoor bar, second fridge, dishwasher, and glassware service for entertaining

LOCATION & CONNECTIVITY

• Just 5 minutes from WA-8/Hwy 101 in West Olympia

• 20 minutes to downtown Olympia

• 1 hour to SeaTac Airport, Ocean Shores, and Olympic National Forest

• Quick access to both local services and regional attractions

MARKET POSITION

• One of only 9 STRs within 60 miles that can host 16+ with lake access

• Zero direct STR competitors on Summit Lake

• Luxury positioning in an underbuilt hospitality market

ASKING $5,990,000

This is more than a luxury property — it’s a rare, cash-flowing hospitality brand in the making. Whether you’re seeking a legacy asset, luxury event venue, or STR portfolio centerpiece, The Castle at Summit Lake stands unmatched. 

Location