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4705 Main Street

Onekama, MI 49675
  • $1,195,000
  • STATUS: Active
  • ON SITE: 242 Days
  • MLS #: 22010466
$1,195,000
  • 0
    BEDS
  • 0.6
    ACRES
  • 15
    BATHS
  • 0
    1/2 BATHS
  • 6,700
    SQFT
  • $178
    $/SQFT
Neighborhood:
Type:
Business Opportunity
Built:
1950
County:

School Ratings & Info

School District:

Description

The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units plus a cottage offering great summer vacations. Revenues are anticipated to be $250,000 this year. All rooms have been updated and refurbished. Most of the rooms and cottage have been reserved this summer (room rates are 10% than last year). The lakefront features almost 140 feet, 2 docks 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 over a 13% rate of return on your investment.

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© 2022 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2022-11-28T00:10:17.78.
www.soldbystevo.com/homes/127224962
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4705 Main Street Onekama, MI 49675

  • Price: $1,195,000
  • Status: Active
  • On Site: 242 Days
  • MLS #: 22010466
0
Beds
15
Baths
0
½ Baths
0.6
Acres
6,700
SQFT
$178
$/SQFT
1950
Built
Neighborhood:
Onekama Vlg
County:
Manistee
Area:
Arcadia Pleasanton Onekama Br Lk
School District:
Onekama
Property Description
The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units plus a cottage offering great summer vacations. Revenues are anticipated to be $250,000 this year. All rooms have been updated and refurbished. Most of the rooms and cottage have been reserved this summer (room rates are 10% than last year). The lakefront features almost 140 feet, 2 docks 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 over a 13% rate of return on your investment.
Exterior Features

Body Of Water Portage Lake Construction Type BlockFrame/Wood Finished Building Levels 1.00 Lot Dimensions 150 X 100 And 100 X 140 X 40 X 131 Number Of Buildings 2.00 Road Frontage 150.00 Street Type PavedPublic Water Features All SportsDock Water Frontage 140.00 Water Type Lake Waterfront Yes

Interior Features

Air Conditioning Central AirWall Unit(S) Heat Source Natural Gas Heat Type Baseboard

Property Features

Annual Property Tax 12700.00 Association Mason Oceana Manistee Association Of Realtors Auction Or For Sale For Sale Business Includes EquipmentFurnitureInventoryLicensesReal Estate Commercial Type Business Opportunity Homestead Percentage 0.00 New Construction No Ownership Other Sale Conditions None Sewer Public Tax Year 2021 Terms Available CashConventional Uses Other Util Avl At Street BroadbandCableElectricNatural GasPublic SewerTelephone Utilities Attached CableElectricNatural GasTelephone Water Well

Listing provided courtesy of Charles Smith of Re/Max Bayshore Manistee: (231) 887-4777. © 2022 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed.
© 2022 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2022-11-28T00:10:17.78.
 
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