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
