It had previously been listed with Harmony Homes for £3.5m.
The Shore Hotel has been providing hospitality services to island residents and visitors for over a century.
The four-star hotel boasts five recently refurbished guest suites, an award-winning restaurant and a bar with a beer garden and outdoor terrace looking out over Bay ny Carrickey.
A two-storey boathouse has been converted to offer a unique Nantucket-styled beach house tourist accommodation with two bedrooms.
Owned and successfully managed by the current operators for more than 20 years, the Shore Hotel has earned a reputation as a dining destination for residents and visitors alike.
The sale of the business includes future bookings for both the hotel and holiday accommodation, ensuring a ‘seamless transition for the new owner’, said the estate agent.
Plum Properties said: ‘This property is not just a business - it is a lifestyle opportunity that combines the beauty of coastal living with the potential for significant financial success.
‘Offered for sale at offers over £3m, the Shore Hotel offers the opportunity to acquire a well-established and successful hospitality business in addition to the freehold of the real estate, the fixtures and fittings and future bookings. ‘
There are opportunities for expansion to increase revenue further, it said, with plans having already been drawn up to create additional 'beach house' styled tourist accommodation.
The freehouse bar is licensed to accommodate up to 90 patrons while the restaurant has the capacity to serve up to 50 covers.
One of the guest suites looks out over rolling countryside, while two to the front share a spacious balcony overlooking the bay.