110 Battle AlyHolly, MI 48442

Property Details for 110 Battle Aly

Year built

1891

Lot size

0.24 AC

Property size (Sq ft)

9,575 SF

Property type

Turn key restaurants

APN

IH-01-34-304-008

APU

IH0134304008

Description

The Holly Hotel, a 9,575 square foot restaurant established in 1891 and renovated in 1979, is available for purchase at $899,000. This iconic Holly, Michigan landmark, situated on a 0.24-acre lot at 110 Battle Aly, 48442, boasts a rich history as a premier dining destination for over four decades. The property includes 12 dedicated parking spaces, supplemented by ample free public parking nearby. While the western exterior wall sustained fire damage in 2022 from a neighboring fire, the building has been declared structurally sound and all fire, smoke, and water damage has been remediated. The interior has been stripped to studs and floors, allowing for complete customization. The sale includes all salvaged antiques, fixtures, furniture, equipment (FFE), trademarks, mailing lists, the website, and a Class C liquor license. The seller will complete the restoration of the western exterior wall before closing. The restaurant features seating for 140 on the first floor, 128 on the second floor, and 68 in a lower-level space with a separate entrance, plus seasonal outdoor seating. This National Register of Historic Places property is eligible for various historic grants and funding opportunities, including MEDC funding, State of Michigan Historic Commission funding/tax incentives, and Oakland County Historic Downtown funding, as well as low-interest financing. The seller has already explored these options and will assist the new buyer in pursuing them. Further details are available at www.hollyhotel.com.

• CAP approach

  CAP return

  Valuation

  6%

  $2,409,513

  6.5%

  $2,224,166

  7%

  $2,065,297

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,257,027

  Geo Method

  $2,257,027

• Alternative Use

  Use

  Valuation

  Residential

  $1,876,167

  Hospitality

  $1,718,559

  Educational

  $1,429,821

  Medical

  $1,478,995

  Retail

  $2,224,166

Location Insight

City

Holly

County

Oakland

State

Michigan

Latitude

42.7907

Longitude

-83.6267

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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