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Three Lakes Motel 27837 US Highway 41

10 Room Hotel Michigamme, MI 49861 $559,900 ($55,990/Room)

Investment Highlights

  • 4 seasons wonderland in the Upper Michigan of Michigan!!!

Executive Summary

What an incredible opportunity! This one story, 10 guest room motel (outside room access) sits directly on US 41 in the heart of Michigan's Upper Peninsula. The motel was built in 1962 & is situated perfectly on just under 4 acres. Motel guests include leisure and business travelers, cross-country travelers on US 41, construction works, sportsmen & folks visiting family living locally. The motel is open year-round but could be seasonal if preferred. The motel includes a 2-bedroom completely renovated owners unit in the middle of the motel with a 1/2 basement and a great layout. Motel was recently updated w/all new energy efficient double pane vinyl frame windows and the rear of the motel has been resided. The motel office has a continental breakfast, seating area for guests & a small gift shop with unique U.P. items. The front of the motel can accommodate parking for cars, large vehicles, campers, trailers and boats. The guests like that they can park outside their room for easy access. The backyard is huge - the fire pit is the focal point of this area. The possibilities are endless - add a gazebo, tents for large gatherings & horseshoe pits. Storage is taken care of - between the detached garage, pole building, workshop and shed there is more than enough room for vehicles, lawn care & snow removal equipment. The mailing address is Michigamme but the hotel is located in Three Lakes (5 miles west of Michigamme). The motel is adjacent to three beautiful lakes including Beaufort and Ruth (public access) and also Lake George (private). The motel is located near Craig Lake State Park, Van Riper State Park, McCormick Trails, Canyon Falls and has direct access to Trail #8 (snowmobile trail). Centrally located and about an hour from Marquette (Northern Michigan University) or Houghton (Michigan Technological University). Located in a 4 seasons wonderland the possibilities for this commercial property are endless.

Attachments

Report-min

Property Facts

Price $559,900
Price Per Room $55,990
Sale Type Investment
Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 3.43 AC
Building Size 3,986 SF
No. Rooms 10
No. Stories 1
Year Built 1960
Parking Ratio 7.53/1,000 SF
Corridor Exterior
Opportunity Zone Yes

Amenities

  • Smoke-Free

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 10 $84.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
005-067-032-50
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$80,071

zoning

Zoning Code CM (Commercial Zoned District)
CM (Commercial Zoned District)
  • Listing ID: 29547808

  • Date on Market: 9/18/2023

  • Last Updated:

  • Address: 27837 US Highway 41, Michigamme, MI 49861

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