27837 US Highway 41 - Hospitality FOR SALE


Michigamme, MI 49861
$559,900 USD
906-225-1990
27837 US Highway 41, Michigamme, MI for Sale
$559,900 USD
Hospitality - FOR SALE
1/25
null | Request Cap Rate

27837 US Highway 41
Michigamme, MI 49861


HIGHLIGHTS

  • 4 seasons wonderland in the Upper Michigan of Michigan!!!

OVERVIEW

What an incredible opportunity! This one story, 10 guest room motel (outside room access) sits directly on US 41 in the heart of Michigan's Upper Peninsula. The motel was built in 1962 & is situated perfectly on just under 4 acres. Motel guests include leisure and business travelers, cross-country travelers on US 41, construction works, sportsmen & folks visiting family living locally. The motel is open year-round but could be seasonal if preferred. The motel includes a 2-bedroom completely renovated owners unit in the middle of the motel with a 1/2 basement and a great layout. Motel was recently updated w/all new energy efficient double pane vinyl frame windows and the rear of the motel has been resided. The motel office has a continental breakfast, seating area for guests & a small gift shop with unique U.P. items. The front of the motel can accommodate parking for cars, large vehicles, campers, trailers and boats. The guests like that they can park outside their room for easy access. The backyard is huge - the fire pit is the focal point of this area. The possibilities are endless - add a gazebo, tents for large gatherings & horseshoe pits. Storage is taken care of - between the detached garage, pole building, workshop and shed there is more than enough room for vehicles, lawn care & snow removal equipment. The mailing address is Michigamme but the hotel is located in Three Lakes (5 miles west of Michigamme). The motel is adjacent to three beautiful lakes including Beaufort and Ruth (public access) and also Lake George (private). The motel is located near Craig Lake State Park, Van Riper State Park, McCormick Trails, Canyon Falls and has direct access to Trail #8 (snowmobile trail). Centrally located and about an hour from Marquette (Northern Michigan University) or Houghton (Michigan Technological University). Located in a 4 seasons wonderland the possibilities for this commercial property are endless.

FOR SALE DETAILS

PRICE

$559,900 USD

PRICE/SF

$140 USD /SF

# OF ROOMS

10

PRICE/ROOM

$55,990 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Three Lakes Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

30

LAND DETAILS

LAND ACRES

3.43 AC

LAND SF

149,411 SF

ZONING

CM

APN/PARCEL ID

005-067-032-50

ASK ABOUT THIS PROPERTY

Kellie Hillier-GenschawRe/Max 1st RealtyMore Info
906-225-1990

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Kellie Hillier-GenschawRe/Max 1st RealtyMore Info
906-225-1990

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.