1712 Ashmun St - Hospitality FOR SALE


Sault Sainte Marie, MI 49783
$350,000 USD
248-930-4922
1712 Ashmun St, Sault Sainte Marie, MI for Sale
$350,000 USD
Hospitality - FOR SALE
1/15
null | Request Cap Rate

1712 Ashmun St
Sault Sainte Marie, MI 49783


OVERVIEW

Located on a high-visibility corridor in the heart of Sault Ste. Marie, this 13-unit hospitality property, inclusive of an attached single-family residence, offers unmatched value at just ~$27k per unit and ~$66 per square foot. The $3.22 billion Soo Locks expansion project brings an influx of construction workers, engineers, contractors, and government personnel to the area through at least 2030, while long-term rental demand is already strong thanks to very low supply and proximity to Lake Superior State University. At $350,000, this asset is priced to move and offers a clear path to immediate cash flow with multiple exit strategies for investors, developers, and owner/operators alike. One of the owners is a licensed realtor and this property may be bought as a package with 1707 Ashmun.

FOR SALE DETAILS

PRICE

$350,000 USD

PRICE/SF

$62 USD /SF

# OF ROOMS

12

PRICE/ROOM

$29,167 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Laker Inn Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,951 SF

ZONING

B3

APN/PARCEL ID

051-543-005-00

ASK ABOUT THIS PROPERTY

Jeff LippleUnited Country - Midwest Lifestyle PropertiesMore Info
248-930-4922

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Jeff LippleUnited Country - Midwest Lifestyle PropertiesMore Info
248-930-4922

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