541 Lake St - Hospitality FOR SALE


Frankfort, MI 49635
$1,200,000 USD
231-357-0872
541 Lake St, Frankfort, MI for Sale
$1,200,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

541 Lake St
Frankfort, MI 49635


OVERVIEW

Discover a rare chance to own a family-run motel and home just steps from downtown Frankfort and the Lake Michigan shoreline. This well-established business has been lovingly maintained by the original owners and boasts a loyal client base of repeat guests who return year after year. The picturesque grounds feature a charming creek, gazebo, and picnic area—perfect for relaxation and outdoor gatherings. Directly across the street lies the scenic Betsie Bay and the Betsie Valley Bike Trail, offering easy access to both Frankfort and Elberta’s shops, restaurants, theater, library, public boat launch and the stunning beaches of Lake Michigan. The motel includes 9 guest rooms including 4 rooms with two full beds, 2 rooms with three full beds and 3 rooms with queen beds. There is also potential to create additional guest accommodations or reconfigure the layout to fit a new vision. The owner’s home doubles as the check-in area and includes a comfortable single-family residence with a studio apartment on the second level, ideal for guest lodging or long-term rental income. Recent upgrades provide peace of mind include new heating/cooling units, beds, carpeting, and updated bathrooms in every room. A new roof, sealed driveway, underground electric, and new gas lines for the motel. The home has new windows, roof and the start of renovations to finish off more living space. This property presents endless possibilities—expand the motel, transform it into a charming Bed & Breakfast, add an event venue, or create additional guest accommodations. Situated along the iconic M-22 Scenic Drive, this location is unbeatable—just minutes from Sleeping Bear Dunes National Lakeshore, Crystal Lake, world-class trout streams, and endless hiking and biking trails. Guests can enjoy the best of northern Michigan right outside their door. A rare turnkey opportunity to own a thriving hospitality business in one of Michigan’s most beloved destinations.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$235 USD /SF

# OF ROOMS

13

PRICE/ROOM

$92,308 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

R and R Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1989

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,124 SF

ZONING

C

APN/PARCEL ID

05-001-461-00/5103002700,51-030-027-00

ASK ABOUT THIS PROPERTY

Heather LavantureCENTURY 21 NorthlandMore Info
231-357-0872

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Heather LavantureCENTURY 21 NorthlandMore Info
231-357-0872

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