905 Forest Avenue

Price: $ 865,000.00
Square Ft.: 5273
Price/SQFT: $ 164.04

Turnkey lodging property in beautiful downtown Frankfort on M22. Owner retiring. Includes 14 tastefully decorated rooms with heat, a/c, flat screen TV’s, compact refrigerator, and microwave plus a 440 sf cabin with kitchen. Also includes a remodeled 2BR/1.5BA house with deck and basement storage currently used as an owner’s residence, but could be rented for additional income. A short walk to downtown shopping, restaurants, movie theater and a sandy Lake Michigan beach. Close to the Betsie Valley bike trail, public boat launch with Lake Michigan access, marina, Crystal Lake and Sleeping Bear National Lakeshore. Listed at 17% cap rate based on 2019 financials. Strong growth trend with a 26% increase in 2019 revenue and a record July/August 2020. Owner has made ongoing improvements (see documents). Currently open April through October. Up North living at its best!

Basic Features:

Listing # 1878591
City: Frankfort
State: MI
Zip: 49635
Area: Benzie
Neighborhood:
Acres: 0.57
Square Ft: 5273

Additional Features:
Basement: Slab,Stone,Michigan Basement,Entrance Outside Location: Corner Lot
Business Included: Yes Lot:
Business Name: Bay Port Lodging Miscellaneous:
Construction: Frame Documents:
Zoning: Residential Possession: At Closing
Deeded Water: No Property Status: Active U/C Taking Backups
Dimensions: 150 X 166 Real Estate Included:
Directions: Driving on 115 into Frankfort it changes to Forest Ave (22), property is on the northeast corner of the intersection of Forest and 9th St. Remodeled: 2005
Days On Market: 157 Road Frontage: Public Maintained
Days On MLS: 156 Roofing: Asphalt
ECO Features: No For Sale Or Lease: For Sale
Extras: Furniture/Fixtures,Other For Sale Or Rent: For Sale
Financing: Special Assessment:
Floor Type: Township: Frankfort
Heating/Cooling: Natural Gas,Mutiple Units Vacant: No
Heating/Cooling Type: Forced Air,Other,Window Air Conditioner Water:
Inventory Included: Yes Year Built: 1944
Licenses: None  

Listing courtesy of Three West, LLC
1131 E. Eighth Street , Traverse City , MI 49686