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Seasons Inn 1582 N US 31 Hwy 43 Room Hotel Traverse City, MI 49686 $3,750,000 ($87,209/Room) 10% Cap Rate
Investment Highlights
- Located on the main corridor in Traverse City, MI , a major tourist destination
- Elevator and indoor pool
- Compact building with manageble number of rooms great for an owner operator.
Executive Summary
Excellent location in one of Michigan's premiere tourist destination markets.
Priced at a 3.5 revenue multiple and a 10% cap rate.
Seller has an SBA loan and his bank will do another SBA loan for the buyer.
Two-story building with an elevator and indoor pool.
Renting 43 of 44 rooms. Seller uses one room occasionally but keeps it out of rentability. Hotel currently generates approximately $26K per room revenue and the 44th room could be put back into rental.
Priced at a 3.5 revenue multiple and a 10% cap rate.
Seller has an SBA loan and his bank will do another SBA loan for the buyer.
Two-story building with an elevator and indoor pool.
Renting 43 of 44 rooms. Seller uses one room occasionally but keeps it out of rentability. Hotel currently generates approximately $26K per room revenue and the 44th room could be put back into rental.
Property Facts
| Price | $3,750,000 | Lot Size | 1.93 AC |
| Price Per Room | $87,209 | Building Size | 19,900 SF |
| Sale Type | Investment | No. Rooms | 43 |
| Cap Rate | 10% | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1998/2022 |
| Property Subtype | Hotel | Parking Ratio | 1.58/1,000 SF |
| Building Class | C | Corridor | Interior |
| Zoning | HR | ||
| Price | $3,750,000 |
| Price Per Room | $87,209 |
| Sale Type | Investment |
| Cap Rate | 10% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.93 AC |
| Building Size | 19,900 SF |
| No. Rooms | 43 |
| No. Stories | 2 |
| Year Built/Renovated | 1998/2022 |
| Parking Ratio | 1.58/1,000 SF |
| Corridor | Interior |
| Zoning | HR |
Amenities
- Pool
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 43 | $194.00 | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,551,400 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,551,400
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