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Available For Sale - Hospitality

5,273 SF | Show Pricing $

AVAILABILITY DETAILS

Size
5,273 SF
Price/SF
Show Pricing $
Listing ID
SA434874
Notes
Turnkey lodging property in beautiful downtown Frankfort on M-22. Owner retiring. Includes 14 tastefully decorated rooms with heat, a/c, flat screen TV’s, and microwave plus a 440 sf cabin with kitchen. Also includes a remodeled 2BR/1.5BA house with deck and basement storage currently used as an owner’s residence, but could be rented for additional income. A short walk to downtown shopping, restaurants, movie theater and a sandy Lake Michigan beach. Close to the Betsie Valley bike trail, public boat launch with Lake Michigan access, marina, Crystal Lake and Sleeping Bear National Lakeshore. Listed at 17% cap rate based on 2019 financials. Strong growth trend with a 26% increase in 2019 revenue and a record July/August 2020. Owner has made ongoing improvements (see documents). Currently open April through October. Up North living at its best!
Uses
Hospitality

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Bill Somerville, Three West Commercial