43-Unit Non-Smoking
For Sale
Contact for pricing
1451 S STEPHENSON AVE, Iron Mountain, MI 49801
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 Market124
Property Features for 1451 S STEPHENSON AVE
General Information
Standard status
Active
Size
20,180 SF
Property subtype
Hospitality
Building Details
Year Built
1996
Stories
2
Listing Agency:
Southeast International Hotel Brokers
Listed By:
Frank Smith · License #MO 1999019778
(417) 865-2520
Source:
Crexi
Added: Jun 5
Changed: Sep 13
Last Checked: Oct 5 at 6:49PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,917
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,518,340
$1.5M
Cap Rate 7%
$1,084,529
$1.1M
Cap Rate 9%
$843,522
$843.5K
Market Conditions
NOI Build-Up for 20,180 SF
Gross rent
$181.6K $9.00/SF
− Vacancy
−$21.8K −$1.08/SF
EGI
$159.8K $7.92/SF
− OpEx
−$83.9K −$4.16/SF
NOI
$75.9K $3.76/SF
Area
Dickinson County, MI
Vacancy
12.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,518,340
Cap Rate 7%
$1,084,529
Cap Rate 9%
$843,522
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 authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 49801, MI
11,479
Population
5,927
Households
1.9
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
123.9 sq mi
ZIP Area
93
Density / Sq Mi
$62,461
Median Household Income
$41,468
Median Earnings
$667
Median Rent
$157,800
Median Home Value
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Frequently Asked Questions
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
