For Sale
$5,995,000

1400 Us-31Honor, MI 49617

Profitable Michigan Hotel, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 43-key Baymont by Wyndham hotel presents a lucrative investment opportunity. Boasting a strong 10.84% cap rate and a net operating income (NOI) of $650,000 (as of 01/01/2023), this two-story, 2005-built property offers significant potential for growth. Recently renovated in 2021/2022, the hotel is in excellent condition and features an indoor pool, outdoor hot tub, breakfast room, fitness center, and meeting rooms. Additional space is available on the ground floor, along with on-site living quarters. The hotel benefits from a prime location in Beulah, Michigan, near Crystal Lake and Lake Michigan, attracting a significant portion of its business from wedding parties. The property includes 55 parking spaces and sits on a single building. With a 59.11% occupancy rate (as of 01/01/2023), this hotel presents a compelling opportunity for a savvy investor. The asking price is $5,995,000. This property has been pre-approved for an SBA 504b loan.

Highlights

  • High-yield investment opportunity with strong gross and net operating income.
  • Property is in excellent condition.
  • Significant upside potential for increased revenue and profitability.

Property Details for 1400 Us-31

Property type
Hospitality properties, Hotels
Year Built/Renovated
2005/2021
Buildings
1
Stories
2

Location Insight

City
Honor
County
Benzie
State
Michigan
Latitude
44.6409131
Longitude
-86.0223611
1400 Us-31, Honor, Michigan

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1400 Us-31
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