Nothern Michigan Motel

Suttons Bay, MI (Leelanau County)

Just a small portion of the property

Asking Price:$1,650,000

Cash Flow:$150,000

Gross Revenue:$300,000

EBITDA:N/A

FF&E:$5,000

Inventory:$5,000*

Real Estate:$1,645,000

Established:1950

*not included in asking price.

Nothern Michigan Motel

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Business Description

Enjoy the summers on Old Mission Peninsula with this outstanding motel investment. Easily operated and sold out during summer months. Owner keeps it open year round, but does not use employees outside of the summer months. Literally everything has been updated and it shows impeccably. You won't find anything in this area that compares - or likely anything else available. Located just south of Suttons Bay on M-22, convenient to both Traverse City and the entire Old Mission Peninsula. This county also does not have the room taxes in Traverse City, and therefore the rooms are priced at nearly $100 per night less than the competition in Traverse City. Each and every room is beautifully decorated and in excellent condition. Very few employees necessary to operate the motel during the busy months. Even the mechanicals have all been updated and/or replaced. Ample room for additional growth with the development of additional rooms.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building Sq. Ft.:
N/A
Employees:
Two seasonal
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Beautiful 19 unit motel directly across from Grand Traverse Bay. Property has been maintained meticulously over the past 15 years with nearly $100,000 a year spent in improvements to put it into pristine condition. Each and every unit has been remodeled professionally by a full time on-site finish carpenter. Nothing has been overlooked. There is also a wonderful owners unit that includes two bedrooms and a full basement, and a complete workshop attached. Easy access to the bay directly across the street, which is not owned by this property but by the County.
Competition:
The property is located just south of Suttons Bay, and roughly 5 miles north of Traverse City. Attracts tourists to the area for the numerous wineries, the location and cost difference from staying in Traverse City which averages over $100 per room per night, and just the people that want to experience the beauty of Northern Michigan. This is a premier location.
Growth & Expansion:
There is ample room to double the size of the existing number of units. Owners have added 5 units since they have owned the property by converting existing buildings, but there is ample room for additional growth.
Financing:
Possible
Support & Training:
Owner will provide support and training as necessary. Very easy operation to run.
Reason for Selling:
Owners want to retire.

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Paul DeBartolo

Business Listed By:
Paul DeBartolo

DeBartolo Commercial Investment Group

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