8230 Highland Rd - Hospitality FOR SALE


White Lake, MI 48386
$1,250,000 USD
248-891-1000
8230 Highland Rd, White Lake, MI for Sale
$1,250,000 USD
Hospitality - FOR SALE
1/21
null | Request Cap Rate

8230 Highland Rd
White Lake, MI 48386


OVERVIEW

This property is located in White Lake, 1.51 Acres, and It has 133 feet of waterfront ON PONTIAC LAKE. CITY SEWER is tapped and connected to all 22 units! City Water TAP is already PAID FOR by the seller!!!! The property is currently shut down due to gas line issue. Property has been shut down since February. When it was up and running it was rented at a weekly rate, bringing in a gross amount just under $26,000 a Month! It has a total of 32 rooms. 6 of the rooms are assigned to the manager's residence which is connected to the front main office. 3 of the rooms are used for storage and another 2 consists of the mechanical rooms. The remaining 21 "rooms" consist of 13 cabins, (one of which is a double cabin), and 8 motel room building. One extra cabin is being used for storage, and can easily be converted back to rental. Also, some of the 6 rooms assigned to the manager's residence can be converted into rentals for added value. There is also enough empty space to build 30 more motel rooms (with sufficient parking left) at the prompting of the city. The architect has already sketched the building plans and presented them to the city. We have our copies to hand over to any buyer. Property is being Sold As-IS.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$72 USD /SF

# OF ROOMS

22

PRICE/ROOM

$56,818 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pontiac Lake Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1957

PARKING SPACES

24

LAND DETAILS

LAND ACRES

1.84 AC

LAND SF

80,150 SF

ZONING

RM-2

APN/PARCEL ID

12-13-476-001

ASK ABOUT THIS PROPERTY

Tom WilhelmWilhelm & Associates IncMore Info
248-891-1000

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Tom WilhelmWilhelm & Associates IncMore Info
248-891-1000

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