N9600 M64 - Hospitality FOR SALE


Marenisco, MI 49947
$2,143,000 USD
612-385-5546
N9600 M64, Marenisco, MI for Sale
$2,143,000 USD
Hospitality - FOR SALE
1/20
null | 11% Cap Rate

N9600 M64
Marenisco, MI 49947


HIGHLIGHTS

  • 11% cap rate: Profitable year-round resort and marine business on 8.36 acres of land
  • Variety of lodging accommodations and amenities nestled in the heart of the natural beauty of the Upper Peninsula of Michigan
  • Well-known restaurant and lounge onsite with banquet/meeting facilities accommodating up to 250 people
  • Two protected harbors and a full-service marina with gas and boat rentals, featuring 1,180 feet of shoreline along Lake Gogebic
  • The sale also includes a marine and storage business. Additionally available, but not included in the sale price, are 35 acres of development land
  • Located on Lake Gogebic, recognized as a major fishery with over 38 miles of beautiful shoreline

OVERVIEW

SVN | Northco is pleased to present the listing of Gogebic Lodge & Marine ("Property") a full-service resort that offers multiple revenue streams located in Marenisco, MI on Lake Gogebic. The Property has two protected harbors and a full-service marina with gas. Boat rentals are available at Gogebic Lodge for all guests. From one-bedroom cottages to three-bedroom chalets as well as a campground area with hookups for motor homes, campers, and tents, Gogebic Lodge can accommodate groups or families of any size. A full-service restaurant and lounge are also onsite with a banquet/meeting facility equipped to accommodate up to 250 people. The Property is open year-round and offers several amenities including a new screened-in outdoor pavilion with a grill, central AC in the main lodge and cabins, a sauna, access to snowmobile trails, and much more. There is also a profitable marine and storage business included in the sale. Additionally available, but not included in the sale price, are 35 acres of development land.

FOR SALE DETAILS

PRICE

$2,143,000 USD

PRICE/SF

$256 USD /SF

# OF ROOMS

9

PRICE/ROOM

$238,111 {currency}

CAP RATE

11%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gogebic Lodge & Marine

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1983

PARKING SPACES

36

LAND DETAILS

LAND ACRES

8.36 AC

LAND SF

364,162 SF

ZONING

-

APN/PARCEL ID

04-22-401-500

ASK ABOUT THIS PROPERTY

Frank JermusekSVN | Northco Real EstateMore Info
612-385-5546

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Frank JermusekSVN | Northco Real EstateMore Info
612-385-5546

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