1024 S I 75 Business Loop - Hospitality FOR SALE


Grayling, MI 49738
$694,900 USD
616-250-6751
1024 S I 75 Business Loop, Grayling, MI for Sale
$694,900 USD
Hospitality - FOR SALE
1/73
null | Request Cap Rate

1024 S I 75 Business Loop
Grayling, MI 49738


OVERVIEW

The possibilities are endless with this well-maintained gem. Located in Grayling, the gateway of the North. Minutes from Gaylord, MI, and an easy drive to Traverse City. Grayling, MI, is a small town that is experiencing some nice growth due to the Air Force Base, New Restaurants, New housing developments, etc. It makes a great place to stay with its proximity to the tip of the Mitt, and both NE & NW Michigan. This 22-unit motel has been very well maintained throughout the years, with a steady stream of patrons. Owned and cared for for over 30 years, it's time to hand the investment over to a new owner. Situated on 4.86 acres, on a main thoroughfare, with easy access to I-75, but set back enough for a peaceful setting. It features: a standalone building with 7 kitchenette units, that could be used for long term rental, for a constant cash flow, plus an 1800 sq ft home connected to the main motel, that features: a large master suite, cathedral ceilings, and a large kitchen and living area. Lots of parking, a large maintenance building that could be used for on-site laundry, and more.

FOR SALE DETAILS

PRICE

$694,900 USD

PRICE/SF

$68 USD /SF

# OF ROOMS

21

PRICE/ROOM

$33,090 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pointe North Of Grayling

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1963

PARKING SPACES

30

LAND DETAILS

LAND ACRES

4.83 AC

LAND SF

210,395 SF

ZONING

CM

APN/PARCEL ID

070-007-005-001-01

ASK ABOUT THIS PROPERTY

Tom RumbleeXp RealtyMore Info
616-250-6751

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Tom RumbleeXp RealtyMore Info
616-250-6751

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