Onekama, MI 49675,4714 Main Street
Onekama, MI 49675,4714 Main Street
Onekama, MI 49675,4714 Main Street
13
$550,000
$649,000
15.3%
Est.Price: ?

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4,755 SqFt

4714 Main Street Onekama, MI 49675

Est. payment /mo
SOLD DATE : 04/17/2023

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Key Details

Sold Price $550,000

Property Type Commercial

Sub Type Commercial/Industrial

Listing Status Sold

Purchase Type For Sale

Square Footage 4,755 sqft

Price per Sqft $115

Subdivision Mi

MLS Listing ID 70255582

Sold Date 04/17/23

Year Built 1950

Annual Tax Amount $4,706

Tax Year 2021

Lot Size 0.380 Acres

Acres 0.38

Lot Dimensions 150 x 100 & 37.5 x 40

Property Description

The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units offering great summer vacations. Revenues are anticipated to be $204,000 this year. All rooms have been updated and refurbished. Most of the rooms have been reserved this summer (room rates are 10% higher than last yr). The lakefront features almost 37 feet, a dock and a nice sandy beach and lake bottom. Visit www.portagelakemotel.com to view all of the rooms and the lakeside cottage. There is an on-site manager and housekeeper so you can purchase and just make a good return on your money or manage it yourself for a great income. The asking price can result in a cash flow providing a 20% rate of return on your investment. There is also a cottage which can be included MLS 22010466

Location

State MI

County Manistee

Area Onekama (51022)

Interior

Heating Hot Water

Exterior

Waterfront Yes

Building

Structure Type Block,Concrete,Frame,Wood

Others

Energy Description Natural Gas

Acceptable Financing Land Contract

Listing Terms Land Contract

Financing Cash,Conventional

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MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Listed by RE/MAX Bayshore Manistee
Bought with RE/MAX Bayshore Manistee

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Scott Clay

Broker/Owner | License ID: 6502432343

+1(989) 332-1712

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