43-Unit Non-Smoking
1451 S STEPHENSON AVE Iron Mountain, MI 49801
1451 S STEPHENSON AVE, Iron Mountain, MI, 49801
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For Sale
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Interior-corridor 43-unit non-smoking hotel with fitness center, guest laundry, and breakfast area.
Property Size20,180 SF
Price / SF$84.24
Days on Market48
Property Features for 1451 S STEPHENSON AVE
General Information
- Standard status
- Active
- Size
- 20,180 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1996
Listing agency
Southeast International Hotel Brokers
(417) 865-2520
Listed by
Frank Smith · License #MO 1999019778
Source
Crexi
Added: Jun 5 Updated: Jul 21 at 5:56AM Checked: Jul 21 at 5:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Southeast International Hotel Brokers
Investment Insights
Based on property information with market context.
This 43-unit, two-story, interior-corridor, non-smoking hotel offers simple but exceptionally clean, spacious guestrooms. The property includes an apartment and 1BR living quarters, along with amenities such as a breakfast area serving continental breakfast, a fitness center, guest laundry, and a dry sauna.
The hotel is positioned directly on a 4-lane state business highway with strong visibility, located midway between a VA medical center and a local hospital.
Additional on-site income is generated through a 24-hour tanning salon and a sundries store.
The hotel is positioned directly on a 4-lane state business highway with strong visibility, located midway between a VA medical center and a local hospital.
Additional on-site income is generated through a 24-hour tanning salon and a sundries store.
Key Highlights
- 43‑unit, interior‑corridor, 2‑story non‑smoking hotel
- Year built 1996
- Amenities include fitness center, guest laundry, and dry sauna
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $181.6k | $9.00 |
| − Vacancy | −$21.8k | −$1.08 |
| EGI | $159.8k | $7.92 |
| − OpEx | −$83.9k | −$4.16 |
| NOI | $75.9k | $3.76 |
20,180 SF · lease $9.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$1.08M
$949.0K – $1.27M
NOI $75,917 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,343 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tropical Tanning Salon
Tanning Salon
Mountain Host Motor ...
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Hotel - Interior-corridor 43-unit non-smoking hotel with fitness center, guest laundry, and breakfast area.
Where is this hotel located?
The property is located at 1451 S STEPHENSON AVE Iron Mountain, MI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 43‑unit, interior‑corridor, 2‑story non‑smoking hotel; Year built 1996; Amenities include fitness center, guest laundry, and dry sauna
