Onekama, MI 49675,4714 Main Street
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Onekama, MI 49675,4714 Main Street
Onekama, MI 49675,4714 Main Street
Onekama, MI 49675,4714 Main Street
Onekama, MI 49675,4714 Main Street

$550,000

Est. payment /mo

$649,000

15.3%
Est.Price: ?

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4714 Main Street Onekama, MI 49675

14 Baths

0.38 Acres Lot

SOLD DATE : 04/17/2023

Key Details

Sold Price $550,000

Property Type Commercial

Sub Type Retail/Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 22012712

Full Baths 14

Year Built 1950

Annual Tax Amount $4,706

Tax Year 2021

Lot Size 0.380 Acres

Property Description

The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units offering great summer vacations. Revenues are anticipated to be $204,000 this year. All rooms have been updated and refurbished. Most of the rooms have been reserved this summer (room rates are 10% higher than last yr). The lakefront features almost 37 feet, a dock and a nice sandy beach and lake bottom. Visit www.portagelakemotel.com to view all of the rooms and the lakeside cottage. There is an on-site manager and housekeeper so you can purchase and just make a good return on your money or manage it yourself for a great income. The asking price can result in a cash flow providing a 20% rate of return on your investment. There is also a cottage which can be included MLS 22010466

Location

State MI

County Manistee

Area Masonoceanamanistee - O

Interior

Cooling Window Unit(s)

Fireplaces Number 1

Exterior

Garage Concrete, Driveway

Community Features Lake

Utilities Available Telephone, Cable Connected, Public Sewer, Broadband, Natural Gas Connected, Electricity Available, Natural Gas Available

Waterfront Yes

Waterfront Description All Sports, Dock

View Y/N No

Roof Type Concrete

Building

Sewer Public Sewer

Water Well, Public

New Construction No

Schools

School District Onekama

Others

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

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Listed by RE/MAX Bayshore Manistee

Karen Austin

Broker Associate

+1(517) 290-4493

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