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1180 N Shore Dr

Mears, Michigan, 49436, United States

Property ID: #901677 // commercial
1180 N Shore Dr
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Traditional Sale
List Price:
$8,900,000.00
Icon 63,000 ft²
Icon 2.29 acres
Icon - beds
Icon - baths
Address:
1180 N Shore Dr
City:
Mears
State:
Michigan
Zip Code:
49436
County:
Oceana
Subdivision:
The Dunes Waterfront Resort
Country:
United States
Property Type:
Commercial
Additional Property Types:
Business
Year Built:
1993
Property Size:
63,000 ft²
Lot Size:
2.29 acres
Data Source:
Michigan Multiple Listing Service (MiRealSource)
MLS/Reference Number(s):
80010291
Source Status:
Active
Source Property Type:
Commercial, Business

Property Provided By

  • Austen Lobenherz
  • Berkshire Hathaway Home Svcs
  • +1 (231) 547-9905
Cashifyd
Connect with a local buyer's rep to get up to
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Property Information

The Dunes Waterfront Resort is a 74 unit waterfront hotel on the sandy shores of Silver Lake and the world famous Silver Lake Sand Dunes which border Lake Michigan to the West. Best known for the ORV and ATV riding Silver Lake is one of Michigan's most popular summer destinations. The Hotel is being offered turn key with a seasonal staff in place which can be managed by a semi-passive investor or professional management co. Historically the property has been a 5 month per year operation and supports a 10% cap rate at ask price. The property has been very well maintained including a new roof and siding. Additional land with storage facilities is located just across the street and included in this offering. of the 74 spacious guest rooms/suites; 45 are facing the water with private balconies and dramatic views of Silver Lake and the sand dunes. The top floor has a large indoor swimming pool, conference rooms, prep kitchen, game room/arcade. Some of this space could be converted to luxury suites or food and beverage operation with the best views the property has to offer. Adjacent to the lobby and front desk operations is a manager's office & apartment. One of the only resort properties operating in the area and the highest standards of accommodations in all of Silver lake has resulted in a high rate of repeat business, steadily increasing ADR and subsequent high cash flow. Interested parties are asked not to communicate with on-site staff and not to call the hotel directly. Financial and additional documentation is available upon request.

Source Disclaimer

Michigan Multiple Listing Service (MiRealSource)

Listing Information © 2024 MiRealSource Inc. All Rights Reserved.
Courtesy of Berkshire Hathaway Home Svcs.
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

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This content last updated on 2024-02-03 07:00:17. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.


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