2445 Charlevoix Ave - Hospitality FOR SALE


Petoskey, MI 49770
$2,900,000 USD
216-264-2012
2445 Charlevoix Ave, Petoskey, MI for Sale
$2,900,000 USD
Hospitality - FOR SALE
1/4
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2445 Charlevoix Ave
Petoskey, MI 49770


HIGHLIGHTS

  • July RevPar: $214.30
  • Bayfront View 1,000,000+ Annual Visitors to Petoskey
  • Newly Renovated Unique Suites

OVERVIEW

Marcus & Millichap is proud to present the Bay Inn of Petoskey, a boutique hospitality asset located in Petoskey, Michigan. The Bay Inn is being offered at $2,900,000, representing an excellent investment opportunity. This two-story, exterior-corridor property is situated directly off U.S. Route 31, offering convenient access to a variety of regional demand drivers. The offering includes 15 exterior-corridor guest rooms in the main building, one standalone cabin, one studio unit, and a three-bedroom, two-bathroom house. Ideally positioned just minutes from both downtown Petoskey and Bay Harbor, the property benefits from strong year-round tourism fueled by Lake Michigan waterfront recreation, top-tier golf courses, nearby ski resorts, the Little Traverse Wheelway, and the Odawa Casino. Perched on an elevated, west-facing site, the Bay Inn offers sweeping sunset views over Little Traverse Bay—an irreplaceable amenity that sets this property apart as a truly unique asset within the Northern Michigan. Located minutes from downtown Petoskey and Bay Harbor, the inn benefits from strong regional tourism demand driven by year-round attractions including waterfront recreation, golf, ski resorts, the Little Traverse Wheelway, and the nearby Odawa Casino. The elevated, west-facing site provides unmatched sunset views—an amenity that distinguishes the Bay Inn as a truly unique asset in the local hospitality market.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$480 USD /SF

# OF ROOMS

18

PRICE/ROOM

$161,111 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bay Inn Of Petoskey

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

16

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,130 SF

ZONING

RT B-1

APN/PARCEL ID

13-18-01-300-041,13-18-01-300-042

ASK ABOUT THIS PROPERTY

Kevin LaurenoMarcus & MillichapMore Info
216-264-2012

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Kevin LaurenoMarcus & MillichapMore Info
216-264-2012

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