12800 Cherry Ave - Hospitality FOR SALE


Rapid City, MI 49676
$1,600,000 USD
231-668-6303
12800 Cherry Ave, Rapid City, MI for Sale
$1,600,000 USD
Hospitality - FOR SALE
1/59
null | 15% Cap Rate

12800 Cherry Ave
Rapid City, MI 49676


HIGHLIGHTS

  • Exceptional location with limited competition. The perfect Motel/Hotel in one of Northern Michigan's premiere destinations

OVERVIEW

An exceptional opportunity to own a resort property in one of Northern Michigan’s most sought-after destinations - just steps from Torch Lake’s legendary sandbar. This unique offering includes two separate parcels. The first features a completely updated 14-unit motel, thoughtfully updated and ready to generate immediate cash flow. Several rooms are equipped with pass-through doors, easily converting into larger multi-room suites to accommodate groups and families. The second parcel includes a 3-bed, 2-bath home, ideal for on-site manager accommodations or additional short- or long-term rental income. With very few lodging options in the area, demand remains exceptionally strong, delivering minimal vacancy throughout the summer season. Guests will appreciate ample on-site parking, potential room to expand, a full commercial kitchen, lobby office, pavilion, and a whole-building generator. A comprehensive fire suppression system provides added peace of mind. Perfectly positioned for guests to enjoy everything the region has to offer, this property sits just a short drive from Elk Rapids, Alden, and Traverse City. Whether pursuing a turnkey investment, expanding a hospitality portfolio, or launching a lakeside business venture, this rare Torch Lake offering delivers location and income potential!

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$163 USD /SF

# OF ROOMS

17

PRICE/ROOM

$94,118 {currency}

CAP RATE

15%

STATUS

Converted

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

South Torch Resort

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

2000

PARKING SPACES

18

LAND DETAILS

LAND ACRES

1.98 AC

LAND SF

86,330 SF

ZONING

-

APN/PARCEL ID

05-12-006-046-00,05-12-700-033-00

ASK ABOUT THIS PROPERTY

Ken WeaverBerkshire Hathaway Home ServicesMore Info
231-668-6303

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

Ken WeaverBerkshire Hathaway Home ServicesMore Info
231-668-6303

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