Building Details

Year built 1990

Roof type Shingle

Listing Agency: NEXTHOME SUPERIOR LIVING Show Phone

Listed By: CANDI KJELLIN Show Phone

Added: Nov 24, 2025 Changed: Oct 27 Last Checked: Oct 28 at 11:06PM

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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.

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Investment Insights

Based on property information with market context.

This 7,263-square-foot motel sits on 2.87 acres and was built in 1990. Guest rooms have updated televisions, furniture, mini refrigerators, microwaves, bedding, mattresses, carpeting, and local artwork. One room includes a kitchenette for extended stays. The property also has a sauna, an 820-square-foot patio with a fire pit and gas grill, a children’s play area, and a fenced area for pets.

The Gwinn property has direct access to ATV, ORV, and snowmobile trails. It is a 10-minute drive from the airport and 20 minutes from Marquette. Public water serves the property.

Key Highlights

• 7,263 square feet on 2.87 acres
• Guest rooms feature 40‑inch smart TVs, mini refrigerators, microwaves, updated furnishings, bedding, mattresses, and carpeting
• One room has a kitchenette for extended stays

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,812

Cap Rate

5.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$776,240 $776.2K

Cap Rate 7%

$554,457 $554.5K

Cap Rate 9%

$431,244 $431.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,263 SF

Gross rent

$108.9K $15.00/SF

− Vacancy

−$27.2K −$3.75/SF

EGI

$81.7K $11.25/SF

− OpEx

−$42.9K −$5.91/SF

NOI

$38.8K $5.34/SF

Area

Marquette County, MI

Vacancy

25.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$776,240

Cap Rate 7%

$554,457

Cap Rate 9%

$431,244

Alternative Uses

Best Use

Hotel Hospitality

$554.5K

$485.2K – $646.9K (±1% cap)

NOI $38,812 @ 7.0% cap · market cap 5.32%

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 20.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Motels

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49841, MI

7,193

Population

3,847

Households

1.9

Avg Household Size

41

Median Age

24%

College-Educated

96%

High-School Grad

227.6 sq mi

ZIP Area

32

Density / Sq Mi

$61,337

Median Household Income

$34,437

Median Earnings

$731

Median Rent

$150,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Motel - Guest accommodations include a kitchenette suite and outdoor amenities for varied stays.

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 $730,000.

What are key features of this property?

This property features: 7,263 square feet on 2.87 acres; Guest rooms feature 40‑inch smart TVs, mini refrigerators, microwaves, updated furnishings, bedding, mattresses, and carpeting; One room has a kitchenette for extended stays