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4714 Main Street Onekama, MI 49675
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Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 4,755 sqft
Price per Sqft $115
Subdivision Mi
MLS Listing ID 70255582
Sold Date 04/17/23
Year Built 1950
Annual Tax Amount $4,706
Tax Year 2021
Lot Size 0.380 Acres
Acres 0.38
Lot Dimensions 150 x 100 & 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 (51022)
Interior
Heating Hot Water
Building
Structure Type Block,Concrete,Frame,Wood
Others
Energy Description Natural Gas
Acceptable Financing Land Contract
Listing Terms Land Contract
Financing Cash,Conventional
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with RE/MAX Bayshore Manistee