Advertise
    Central Lake, MI
    Hospitality

    Central Lake, MI Hospitality Properties for Sale

    Notify Me
    List
    Map
    Bellaire, MI Ellsworth, MI Kewadin, MI Eastport, MI East Jordan, MI Charlevoix, MI Rapid City, MI Alden, MI
    Updated Motel With Standalone Cottages
    Updated: Sep 5, 2025
    Updated Motel With Standalone Cottages

    4871 US Highway 31 N, Central Lake, MI 49622

    $1,674,900
    5,654 sqft 2.76 AC lot
    6 standalone cottages added in 2016
    8 motel rooms received a complete update in 2016
    5,654 square feet of improvements on 2.76 acres
    Two‑bedroom living area for an on‑site manager or owner‑operator
    Oversized 2‑stall garage/workshop plus boat trailer and camper area
    View details
    Motel with Standalone Cottages
    Updated: Jul 24
    Motel with Standalone Cottages

    4871 Us Highway 31 N, Central Lake, MI 49622

    $1,674,900
    5,654 sqft
    6 standalone cottages added in 2016
    8 motel rooms comprehensively updated in 2016
    Two‑bedroom living area for an on‑site owner or manager
    Oversized 2 stall garage/workshop
    Expanded area for boat trailers and campers
    View details
    See hot listings in Central Lake

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

    Cap Rate available after sign in
    Est. NOI available after sign in
    Local Demand available after sign in
    2 active listings match your search: Hospitality for sale in Central Lake, MI. Based on your search, we've also compiled 8 Potential Opportunities for your consideration: 4 properties in nearby cities and 4 land listings with development potential.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Eight-Bedroom Bed and Breakfast
    Eight-Bedroom Bed and Breakfast

    113 Michigan Avenue, Charlevoix, MI 49720

    $1,700,000
    3,814 sqft

    Commercially zoned inn with Lake Michigan views and access to downtown shops, parks, restaurants, and nearby beaches.

    View details
    Victorian Hotel with Lake Michigan Views
    Victorian Hotel with Lake Michigan Views

    18599 Mission Road, Traverse City, MI 49686

    $4,260,000
    10.00 AC lot

    Historic Victorian hotel on about 10 acres with 13 guest rooms, commercial kitchen, and a cafe open to the public.

    View details
    Bed & Breakfast Inn with 8 Rooms
    Bed & Breakfast Inn with 8 Rooms

    113 Michigan Avenue, Charlevoix, MI 49720

    $1,700,000
    3,814 sqft

    Bed and breakfast business opportunity with 8 bedrooms and 7 baths at 113 Michigan Avenue in Charlevoix.

    View details
    Historic Inn and Hospitality Property
    Historic Inn and Hospitality Property

    18599 Mission Rd, Traverse City, MI 49696

    $4,260,000

    Across from the bay, the property combines a refined lobby, adaptable common areas, and landscaped grounds for hospitality use.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Highway-Frontage Commercial Land
    Highway-Frontage Commercial Land

    11640 US 31 N Highway, Charlevoix, MI 49720

    $449,000
    6.00 AC lot

    Commercial parcel with shared access and sewer, water, and natural gas service.

    View details
    Land in Campers Village
    Land in Campers Village

    Pineview Drive lot: 435 B0 1305 6273, Mancelona, MI 49659

    Contact for pricing
    0.42 AC lot

    Vacant land in a four-season recreational community.

    View details
    Commercial Land Parcel
    Commercial Land Parcel

    M-72, Williamsburg, MI 49690

    $650,000
    11.00 AC lot

    Commercially zoned land with an established access plan and utility availability along the east side.

    View details
    Waterfront Buildable Land
    Waterfront Buildable Land

    6785 Fouch Road, Traverse City, MI 49684

    $215,000
    2.69 AC lot

    Buildable waterfront lot with an existing pole building, paved drive, and utilities in place for a range of uses.

    View details

    Central Lake, MI Hospitality Properties Market Trends and Statistics

    Explore 2 hospitality properties for sale in Central Lake, MI on our real estate platform. These investment opportunities span a total of 11,308 square feet of properties for sale, with an estimated market value of $3,349,800.

    Sale prices for hospitality properties in Central Lake, MI average $1,674,900 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

    List
    Map

    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Motels 2

    Demographics Overview

    Population 2,646
    Population Growth (5Y) +5.4%
    Median Household Income $66,618
    College Educated 40.3%

    High-Yield Neighborhoods for Investment

    Identify Central Lake submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49622 $1.4M

    Taxes & Financing

    Tax Rate (average for all types) 1.41%
    Property Tax per SF $21.40 per SF
    Tax Rate vs County Average 0.91 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Antrim County

    New Delisted

    Total CRE Inventory on Market (SF)

    How Realmo verifies these figures

    Need Help?

    Reach out if you need assistance with Realmo tools or have questions about your listings

    Contact Us

    Browse Hospitality properties for Sale Near Central Lake, MI

    Popular Searches in Central Lake, MI

    Most Searched ZIP Codes in Central Lake, MI

    • 49622
    Why this one?
    Saved

    Select Neighborhood

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!