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Commercial For Sale
1180 N Shore Drive
Mears, Michigan 49436
Waterfront:
Yes Water View: YesCommunity:
$8,900,000
74 br, 75.0 bath
63000 sq. ft.
3.000 acres
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 11%+ cap rate at ask price. The property has been very well maintained with a new roof and siding recently. 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. Financial and additional documentation is available upon request.
Interior:
- Bedrooms: 74
- Baths: 75.0
- Sq Ft: 63000
- Year Built: 0
- Utilities:
- Fireplaces:
- Stories:
- Heat/AC:
- Garage:
Exterior:
- Lot Size: 3.000 acre
- Lot Dimensions:
- Waterfront: Yes
- View Types: Water
- Yard:
- Siding:
- Roof: Asphalt
- MLS #: 471772
Ad Number: 4047722
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Updated: Jul 27, 2023
This property is a Commercial located at 1180 N Shore Drive, Mears, Michigan 49436, and is currently For Sale at $8,900,000. This Commercial has 74 bedrooms, 75.0 baths, 63000 sq ft.
Listing Agent: Richard Lobenherz, Berkshire Hathaway HomeServices Real Estate, 231-675-6285, 231-547-9905
Listing Site, Listing Status: Active
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