7642 Us-131 BusCadillac, MI 49601

Property Details for 7642 Us-131 Bus

Year built

2002

Property type

Hospitality properties

Property subtype

Hotels

Description

This exceptional 70-key Holiday Inn Express & Suites hotel presents a compelling investment opportunity in Cadillac, Michigan. Located at 7642 US-131 BUS, exit 177, this three-story, 2002-built property boasts a spacious lobby, breakfast area, elevator, indoor pool, fitness center, and business center, catering to both business and leisure travelers. The hotel features 70 guest rooms, including 16 suites, and ample parking with 85 spaces. The property enjoys a 73% occupancy rate as of December 31, 2023, generating a Net Operating Income (NOI) of $959,882. The IHG brand franchise is being renewed following the completion of a Property Improvement Plan (PIP). This well-maintained hotel is in excellent condition and benefits from a growing market with emerging demand drivers. The original developers, who are now ready to retire, still own the property, offering a unique opportunity for a seamless transition. This turnkey operation presents a strong return on investment in a desirable location. The single building property is situated in Wexford County, Michigan, zip code 49601. This is a rare chance to acquire a profitable, established hotel in a thriving market.

Location Insight

City

Cadillac

County

Wexford

State

Michigan

Latitude

44.2281

Longitude

-85.3974

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