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Whitehall Cottages Boutique Motel 305 E Colby St

11 Room Hotel Whitehall, MI 49461 $970,000 ($88,182/Room) 6.80% Cap Rate

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Investment Highlights

Most popular and highest rated short-term rental property in the area.
Subway, PNC Bank, United State Postal Service, NAPA Auto Parts, and popular local businesses surround Whitehall Cottages.

10 minute walk or 2 minute drive to White Lake marinas.
New owners could easily double the occupancy rates.

Executive Summary

This downtown Whitehall, MI motel has been completely renovated and just steps away from local restaurants and breweries. A great business opportunity for someone wanting to take a profitable business to the next level. Featuring all new plumbing, HVAC, electrical, and roof. All rooms have been remodeled in the last few years. The business is currently the highest-rated Hotel/Motel in the city. Lots of room to grow as the asking price is based on a 7% cap rate from projected 2022 earnings. Current owners have only passively marketed through Airbnb & VRBO and do not even have any signage on the property. With an aggressive marketing campaign and updates to the exterior of the property, the new owners could easily double the occupancy rates as they are currently less than half the county average.

Property Facts

Price	$970,000	Lot Size	0.22 AC
Price Per Room	$88,182	Building Size	3,500 SF
Sale Type	Investment	No. Rooms	11
Cap Rate	6.80%	No. Stories	1
Sale Conditions	1031 Exchange Business Value Included	Year Built/Renovated	1947/2020
Property Type	Hospitality	Parking Ratio	2.86/1,000 SF
Property Subtype	Hotel	Corridor	Exterior
Building Class	C

Price	$970,000
Price Per Room	$88,182
Sale Type	Investment
Cap Rate	6.80%
Sale Conditions	1031 Exchange Business Value Included
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	0.22 AC
Building Size	3,500 SF
No. Rooms	11
No. Stories	1
Year Built/Renovated	1947/2020
Parking Ratio	2.86/1,000 SF
Corridor	Exterior

Amenities

High Speed Internet Access

Boutique/Lifestyle Hotel

Public Access Wifi

About 305 E Colby St , Whitehall, MI 49461

305 E Colby Street is a 3,500-square-foot, 10-unit boutique hotel in Whitehall, Michigan. Recent renovations include all new plumbing, HVAC, electrical, and roof. All rooms have been remodeled in the last few years. The motel sits on a corner lot and is minutes from White Lake.