414-274-1682
2523 US 41 W, Marquette, MI for Sale
Hospitality - FOR SALE
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2523 US 41 W
Marquette, MI 49855


HIGHLIGHTS

  • Part of a 3 Property Portfolio - Cedar Motor Inn, Brentwood Motor Inn, & Econo Lodge Lakeview - Available Individually or as a Portfolio!
  • Combined April T12 Room Revenue over $3.4M, with Combined NOI of $1.4M! Combined NOI 40% Flowthrough!
  • 182 keys total: (42 Keys – Brentwood, 88 Keys – Cedar, 52 Keys - Econo Lodge) – Well-maintained with recent improvements at all 3 hotels
  • Excellent locations off US Hwy 41 (all three properties) – US Hwy 41 is the busiest highway in the Upper Peninsula of Michigan with an AADT of 30K!
  • Marquette is the largest city in the Upper Peninsula of Michigan (MSA Population of over 67,000; Over 1,000,000 out of market travelers annually)
  • Less than 5 miles from Northern Michigan University (Over 7,000 Students Enrolled) & Less than 18 miles from Sawyer International Airport

OVERVIEW

On behalf of ownership, CBRE Hotels is pleased to present the opportunity to acquire the fee-simple interest in three properties located in Marquette, Michigan: Brentwood Motor Inn, Cedar Motor Inn, and the Econo Lodge Lakeview. These hotels are available for purchase individually or as a portfolio. Less than five miles apart, all three hotels are strategically located along US Highway 41, which intersects with Michigan Highway 28 (the largest highway in the Upper Peninsula of Michigan), providing easy access to other regional centers and the rest of the state. Marquette is situated on the shores of Lake Superior, nicknamed the “Queen City of the North,” and is the largest city in the Upper Peninsula of Michigan, with a population of over 20,000 people. The Marquette MSA population is over 67,000 and Marquette welcomes 1,000,000 out of market visitors annually. The hotels benefit from year-round demand generators such as lakes, beaches, and hundreds of miles of snowmobile, mountain biking, and hiking trails. Additionally, travelers enjoy shopping for antiques, crafts, and souvenirs, as well as activities like fishing, cross-country skiing, and boating. Marquette is also known for its charming downtown area, featuring shops, restaurants, and historical buildings.

FOR SALE DETAILS

PRICE

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# OF ROOMS

86

CAP RATE

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SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedar Motor Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1980

PARKING SPACES

97

LAND DETAILS

LAND ACRES

1.87 AC

LAND SF

81,457 SF

ZONING

GB

APN/PARCEL ID

52-08-021-041-20,52-08-021-044-00

ASK ABOUT THIS PROPERTY

Maxx RohdeCBRE, Inc.More Info
414-274-1682

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Maxx RohdeCBRE, Inc.More Info
414-274-1682

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