$550,000
$649,000
15.3%For more information regarding the value of a property, please contact us for a free consultation.
4714 Main Street Onekama Vlg, MI 49675
4,755 SqFt
Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Business And Real Estate
Listing Status Sold
Purchase Type For Sale
Square Footage 4,755 sqft
Price per Sqft $115
MLS Listing ID 67022012712
Sold Date 04/17/23
Originating Board Mason Oceana Manistee Board of REALTORS®
Year Built 1950
Annual Tax Amount $4,706
Lot Size 0.380 Acres
Acres 0.38
Lot Dimensions 150 x 100 & 37.5 x 40
Property Sub-Type Business And Real Estate
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 Vlg
Direction From Manistee, north on US-31 to 8 Mile Road, west to Main Street (M-22), turn right
Body of Water Portage Lake
Interior
Heating Hot Water
Heat Source Natural Gas
Exterior
Road Frontage Paved
Building
Sewer Public Sewer (Sewer-Sanitary), Sewer at Street
Water Well (Existing)
Structure Type Block/Concrete/Masonry,Frame,Wood
Schools
School District Onekama
Others
Tax ID 4145000300
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Unknown/Data Share Listings
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