$550,000
$649,000
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4714 Main Street Onekama, MI 49675
14 Baths
0.38 Acres Lot
Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Retail/Commercial
Listing Status Sold
Purchase Type For Sale
Municipality Onekama Vlg
MLS Listing ID 22012712
Sold Date 04/17/23
Full Baths 14
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1950
Annual Tax Amount $4,706
Tax Year 2021
Lot Size 0.380 Acres
Acres 0.38
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 Masonoceanamanistee - O
Direction From Manistee, north on US-31 to 8 Mile Road, west to Main Street (M-22), turn right
Body of Water Portage Lake
Interior
Cooling Window Unit(s)
Fireplaces Number 1
Exterior
Parking Features Concrete, Driveway
Community Features Lake
Utilities Available Telephone, Cable Connected, Public Sewer, Broadband, Natural Gas Connected, Electricity Available, Natural Gas Available
Waterfront Description All Sports, Dock
View Y/N No
Roof Type Concrete
Street Surface Paved
Building
Sewer Public Sewer
Water Well, Public
New Construction No
Schools
School District Onekama
Others
Tax ID 514145000300
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
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