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4714 Main Street Onekama Twp, MI 49675
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Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Business Opportunity
Listing Status Sold
Purchase Type For Sale
Square Footage 4,755 sqft
Price per Sqft $115
MLS Listing ID 78001329931
Sold Date 04/17/23
Originating Board Aspire North REALTORS®
Year Built 1950
Lot Size 0.380 Acres
Acres 0.38
Lot Dimensions 150 x 100 and 37.5 x 40
Property Description
The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units offering great summer vacations. Revenues are anticipated to be $204,000 this year. All rooms have been updated and refurbished. Most of the rooms have been reserved this summer (room rates are 10% higher than last yr). The lakefront features almost 37 feet, a dock and a nice sandy beach and lake bottom. Visit www.portagelakemotel.com to view all of the rooms and the lakeside cottage. There is an on-site manager and housekeeper so you can purchase and just make a good return on your money or manage it yourself for a great income. The asking price can result in a cash flow providing a 20% rate of return on your investment. There is also a cottage which can be included MLS 22010466
Location
State MI
County Manistee
Area Onekama Twp
Zoning Commercial
Body of Water Portage Lake
Interior
Heating Hot Water
Heat Source Natural Gas
Exterior
Waterfront Description Water Front
Roof Type Asphalt
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Well (Existing)
Structure Type Block/Concrete/Masonry,Frame,Vinyl
Schools
School District Onekama
Others
Tax ID 4145000300
Ownership Private Owned
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Unknown/Data Share Listings
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