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    Turnkey Hospitality Opportunity in Gwinn Title is generated by Realmo AI

    190 E M - 35 Highway, Gwinn, MI 49841

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    For Sale
    $750,000

    COMMERCIAL - Gwinn, MI

    Property size:
    7,263 SF
    Lot size:
    2.87 Acres
    Price / SF:
    $103/SF
    Added:
    Nov 24, 2025
    Days on Market:
    179
    Last Refresh:
    May 22 at 8:06 pm

    Property Features for 190 E M - 35 Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Patio and Porch features
    Patio
    Exterior features
    Deck/Patio, Garden Area
    Standard status
    Active
    Size
    7,263 SF
    Lot size
    2.87 Acres

    Utilities

    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1990
    Roof type
    Shingle

    We can help!

    Listing Contact
    CANDI KJELLIN

    Listing agent CANDI KJELLIN License #6501352707,PersonLicenseNumber

    Listing office NEXTHOME SUPERIOR LIVING 209 Gold Street, Marquette, MI

    Listing date Nov 24, 2025

    MLS# 50195018

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey hospitality opportunity ready for new owner.
    • Direct access to ATV/ORV snowmobile trails for year‑round outdoor activities.
    • Convenient location: 10 minutes from the airport and 20 minutes from Marquette.
    • Enjoy the outdoor amenities: sauna, 820 sq ft patio with fire pit and gas grill, kids' play area, and fenced pet area.
    • Updated rooms with new 40" smart TVs, furniture, mini‑refrigerator, microwave, bedding, mattresses, carpeting, and local artwork.
    • One room features a kitchenette suite for extended stays.

    Overview

    This commercial property, operating as a motel, features a patriotic red, white, and blue theme throughout the interior, with hallways adorned with pictures from the former K.I. Sawyer Airforce Base. Each of the rooms has been updated and includes a new 40" smart TV, furniture, mini-refrigerator, microwave, bedding, mattresses, carpeting, and local artwork. One room offers a kitchenette suite suitable for extended stays. The property is located 10 minutes from the airport and 20 minutes from Marquette, with direct access to ATV/ORV snowmobile trails. Outdoor amenities include a sauna, an 820 square foot patio with a fire pit and gas grill, a kids' play area, and a fenced pet area. A flower bed enhances the front exterior during the summer. The property size is 7,263 square feet, situated on a 2.87-acre lot.

    Financial Insights

    Value Estimation Calculated for Hotel Hospitality

    Conservative
    $431.2K
    NOI $38,812 @ 9.00% cap · cautious / downside scenario
    Moderate
    $554.5K
    NOI $38,812 @ 7.00% cap · market / base-case scenario
    Aggressive
    $776.2K
    NOI $38,812 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Hotel Hospitality

    Component $ $/SF
    Gross rent $108.9k $15.00
    − Vacancy −$27.2k −$3.75
    EGI $81.7k $11.25
    − OpEx −$42.9k −$5.91
    NOI $38.8k $5.34
    7,263 SF · lease $15.00/SF/yr · vacancy 25.00% · expense 52.50%

    Alternative Use Scenarios

    Best Use
    Hotel Hospitality
    $554.5K
    $485.2K – $646.9K (±1% cap)
    NOI $38,812 @ 7.0% cap · market cap 5.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.14M
    $1.87M – $2.50M (±1% cap)
    NOI $149,734 @ 7.0% cap · market cap 19.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motels

    Similar Places Nearby

    • Park Place of the north — E4575, M-35, Gwinn, MI 49841, United States

    Map

    City
    Gwinn
    County
    Marquette
    State
    Michigan
    Longitude
    -87.419312
    Latitude
    46.276416

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    FAQs

    What type of property is this?
    Motel - Updated motel near airport and trails, ready for new owner.
    Where is this motel located?
    The property is located at 190 E M - 35 Highway Gwinn, MI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Turnkey hospitality opportunity ready for new owner.; Direct access to ATV/ORV snowmobile trails for year‑round outdoor activities.; Convenient location: 10 minutes from the airport and 20 minutes from Marquette.
    (906) 361-1414
    We can help!
    Listing Contact
    CANDI KJELLIN
    Real Estate License ID: 6501352707,PersonLicenseNumber
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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