5692 N US Highway 31 - Apartments FOR SALE


Levering, MI 49755
$495,000 USD
231-835-1555
5692 N US Highway 31, Levering, MI for Sale
$495,000 USD
Apartments - FOR SALE
1/6
null | 11.54% Cap Rate

5692 N US Highway 31
Levering, MI 49755


HIGHLIGHTS

  • High visibility, close to Mackinaw Bridge, Mackinac Island, Casinos and I-75 access points

OVERVIEW

LOCATION NOT TO MISS~The Levering Motel features 13 total rentals, with 11 studio rooms, 1 larger corner unit, attached house/office unit, Paved open parking court, maintenance shed and on site coin-op laundry. 9.6% Cap Rate. Excellent rental history with high year round occupancy. Keep the building as individual rental units or convert back to motel for seasonal tourist income. B-2 zoning offers amazing potential opportunities for this 1 acre parcel. This high visibility location is just minutes to Pellston Airport, Mackinaw City, Casinos, Lakes and Parks. Step right in to this turnkey rental business and level up!

FOR SALE DETAILS

PRICE

$495,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

13

PRICE/UNIT

$38,077

CAP RATE

11.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,848 SF

ZONING

B-2

APN/PARCEL ID

10-10-03-251-012

ASK ABOUT THIS PROPERTY

Sue LouiselleColdwell Banker Schmidt RealtorsMore Info
231-835-1555

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Sue LouiselleColdwell Banker Schmidt RealtorsMore Info
231-835-1555

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