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1024 S I 75 Business Loop
Grayling, MI 49738
Pointe North Of Grayling · Hospitality Property For Sale
·
21 Rooms
EXECUTIVE SUMMARY
The possibilities are endless with this well-maintained gem. Located in Grayling, the gateway of the North. Minutes from Gaylord, MI, and an easy drive to Traverse City. Grayling, MI, is a small town that is experiencing some nice growth due to the Air Force Base, New Restaurants, New housing developments, etc. It makes a great place to stay with its proximity to the tip of the Mitt, and both NE & NW Michigan.
This 22-unit motel has been very well maintained throughout the years, with a steady stream of patrons. Owned and cared for for over 30 years, it's time to hand the investment over to a new owner.
Situated on 4.86 acres, on a main thoroughfare, with easy access to I-75, but set back enough for a peaceful setting. It features: a standalone building with 7 kitchenette units, that could be used for long term rental, for a constant cash flow, plus an 1800 sq ft home connected to the main motel, that features: a large master suite, cathedral ceilings, and a large kitchen and living area. Lots of parking, a large maintenance building that could be used for on-site laundry, and more.
This 22-unit motel has been very well maintained throughout the years, with a steady stream of patrons. Owned and cared for for over 30 years, it's time to hand the investment over to a new owner.
Situated on 4.86 acres, on a main thoroughfare, with easy access to I-75, but set back enough for a peaceful setting. It features: a standalone building with 7 kitchenette units, that could be used for long term rental, for a constant cash flow, plus an 1800 sq ft home connected to the main motel, that features: a large master suite, cathedral ceilings, and a large kitchen and living area. Lots of parking, a large maintenance building that could be used for on-site laundry, and more.
PROPERTY FACTS
| Price Per Room | $33,090 | No. Rooms | 21 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1963 |
| Property Subtype | Hotel | Parking Ratio | 2.92/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 4.83 AC | Opportunity Zone |
Yes
|
| Building Size | 10,261 SF | ||
| Zoning | CM - Commercial Zoned District | ||
| Price Per Room | $33,090 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.83 AC |
| Building Size | 10,261 SF |
| No. Rooms | 21 |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 2.92/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | CM - Commercial Zoned District |
AMENITIES
- Wheelchair Accessible
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 21 | $52.00 | - |
PROPERTY TAXES
| Parcel Number | 070-007-005-001-01 | Improvements Assessment | $196,700 |
| Land Assessment | $21,600 | Total Assessment | $218,300 |
PROPERTY TAXES
Parcel Number
070-007-005-001-01
Land Assessment
$21,600
Improvements Assessment
$196,700
Total Assessment
$218,300
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