Historic 16-Room Hotel With
New
For Sale
$500,000
13747 Main Street, Nahma, MI 49864
COM/IND/BUS OPP, Nahma, MI
Property Size6,397 SF
Lot Size0.60 Acres
Price / SF$78.16
Days on Market2
Property Features for 13747 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Patio and Porch features
Patio
Exterior features
Deck/Patio, Fenced Yard, Wheelchair Access
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Subdivision
Nahma Twp (21019)
Standard status
Active
Size
6,397 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3470
Utilities
Heating system
Radiant
Water source
Private
Building Details
Year built
1909
Listing Agency:
NORTHERN MICHIGAN LAND BROKERS - ESCANABA
(906) 225-5263
Listed By:
TJ THOMAS
(906) 420-1280
Added: Aug 25
Last Checked: Aug 26 at 9:06AM
MLS# 50219689
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.
Investment Insights
Based on property information with market context.
The Nahma Inn is an operating hospitality property on a 0.6-acre parcel with 6,397 square feet of improvements. Built in 1909, the property includes 16 guest rooms along with a restaurant and bar. The sale includes the operating business, liquor license, furniture, fixtures, equipment, and related business assets, subject to seller-approved inventory and applicable licensing transfer requirements.
The property is located in Nahma, Michigan, within Delta County, and is zoned Commercial. Physical features include a patio, deck, fenced yard, wheelchair-accessible approach with ramp, radiant heating, and a private water source. The neighboring General Store/event venue and waterfront parcel are excluded from this offering and may be available separately. The current wood boiler is located on adjacent seller-owned property, with the sale subject to survey and land division approval.
The property is located in Nahma, Michigan, within Delta County, and is zoned Commercial. Physical features include a patio, deck, fenced yard, wheelchair-accessible approach with ramp, radiant heating, and a private water source. The neighboring General Store/event venue and waterfront parcel are excluded from this offering and may be available separately. The current wood boiler is located on adjacent seller-owned property, with the sale subject to survey and land division approval.
Key Highlights
- 16‑room hotel with restaurant and bar operation
- 6,397‑square‑foot property on 0.6 acres
- Historic building constructed in 1909
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,612
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,240
$492.2K
Cap Rate 7%
$351,600
$351.6K
Cap Rate 9%
$273,467
$273.5K
Market Conditions
NOI Build-Up for 6,397 SF
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.
Gross rent
$115.1K $18.00/SF
− Vacancy
−$63.3K −$9.90/SF
EGI
$51.8K $8.10/SF
− OpEx
−$27.2K −$4.25/SF
NOI
$24.6K $3.85/SF
Area
Delta County, MI
Vacancy
55.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,240
Cap Rate 7%
$351,600
Cap Rate 9%
$273,467
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,114 @ 7.0% cap · market cap 16.82%
Second Best
Hotel Hospitality
$351.6K
$307.7K – $410.2K
NOI $24,612 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,658 @ 7.0% cap · market cap 17.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 49864, MI
32
Population
45
Households
0.7
Avg Household Size
64
Median Age
50%
College-Educated
100%
High-School Grad
1.0 sq mi
ZIP Area
32
Density / Sq Mi
$175,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Operating hospitality property combines guest lodging with an on-site bar and restaurant.
Where is this hotel located?
The property is located at 13747 Main Street Nahma, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 16‑room hotel with restaurant and bar operation; 6,397‑square‑foot property on 0.6 acres; Historic building constructed in 1909
