61809 Stonegate DrCentreville, MI 49032

Property Details for 61809 Stonegate Dr

Lot size

138.69 AC

Property type

Commercial real estate

APN

012-032-005-00

APU

1203200500

Description

This exceptional 300-acre property, situated on the shores of Lake Templene in Centreville, Michigan, presents a unique investment opportunity. The property includes an 18-hole championship golf course designed by award-winning architect Raymond Hearn, featuring an upscale clubhouse with dining and event facilities. Three luxurious golf villas currently operate as "stay and play" accommodations, with approvals in place for at least nine more. The development potential is significant, encompassing 139 residential lots and one commercial lot, allowing for expansion of residential units, additional lodging, and enhanced amenities. This prime location, midway between Chicago and Detroit, offers unparalleled access to a large and affluent market. Millions have been invested in creating a luxury experience, positioning Island Hills to become a premier residential community in St. Joseph County. The existing infrastructure, including the well-regarded golf course and established lodging, provides a solid foundation for future growth and profitability. This is a rare chance to acquire a fully operational golf resort with substantial development potential. The asking price is $3,949,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,287,760,000

  6.5%

  $1,188,700,000

  7%

  $1,103,800,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $786,884,000

  Geo Method

  $786,884,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,177,690,000

  Retail / Commercial

  $1,148,540,000

  Mixed-Use / Specialty

  $1,169,530,000

  Hospitality / Lodging

  $890,701,000

  Office

  $1,188,700,000

  Institutional / Educational

  $1,224,800,000

  Residential Income

  $1,433,020,000

  Multifamily

  $1,579,630,000

  Automotive / Energy

  $1,049,830,000

  Parking / Income-Based Land

  $337,502,000

  Restaurant / Food Service

  $661,811,000

  Healthcare / Senior Housing

  $1,173,600,000

Location Insight

City

Centreville

County

St. Joseph

State

Michigan

Latitude

41.9046

Longitude

-85.5054

CBSA code

44780

CBSA name

STURGIS, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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