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    1002 Colby St Whitehall, MI 49461

    Sponsored
    For Sale
    $549,000

    Turn-key motel, high ROI potential.

    Property size:
    6,200 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This exceptional investment opportunity presents a recently updated 12-room motel situated on a spacious 1.5-acre lot in Whitehall, MI. The property boasts 6,200 square feet of building space, including a comfortable one-bedroom, one-bathroom manager's apartment complete with a living room, full kitchen, and a partial basement featuring a separate laundry area. Ample parking is available, accommodating both standard vehicles and RVs. A substantial pole building provides additional storage, complemented by a detached two-car garage offering further space. The property also includes undeveloped land, presenting significant potential for expansion or future development. Recent renovations are extensive and include new bathrooms and flooring throughout, fresh interior and exterior paint, new siding, a new roof, updated exterior lighting, a roadside LED programmable display, a newer security camera system, and a recently resurfaced parking lot. The heating system has also been upgraded with a new boiler. This turnkey operation offers low-maintenance management and significant potential for increased revenue given the existing infrastructure and available land. The property's prime location and recent improvements make it an attractive investment for discerning buyers seeking a profitable and easily managed business venture. This busy motel is ready for a new owner to capitalize on its existing success and future growth opportunities.

    Property Features for 1002 Colby St

    General Information

    Property type
    Investment properties
    Square Feet
    6,200 SF
    Lot Size
    65,340 SF

    Building Details

    Year Built
    1951
    Property Profile Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Whitehall
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.33306
    Latitude
    43.40978

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    Nearby Similar for Sale

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      Restaurant business for sale with real estate and equipment.
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      View Details
    • $450,000
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      Downtown Whitehall Church - $450K

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      117 Division St, Whitehall, MI 49461
      View Details

    FAQs

    What type of property is this?
    Investment property - Turn-key motel, high ROI potential.
    Where is this investment property located?
    The property is located at 1002 Colby St Whitehall, MI.
    What is the asking price?
    The asking price for this property is $549,000.
    (989) 317-8141
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    1002 Colby St Whitehall, MI 49461
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    Realmo Value Estimation

    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

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    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.

    Alternative use

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

    More about this property
    1002 Colby St Whitehall, MI 49461
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