Building Details

Year built 1990

Listing Agency: NextHome Superior Living Show Phone

Listed By: Candi Kjellin · License #6501352707,PersonLicenseNumber Show Phone

Added: Oct 31 Last Checked: Nov 1 at 4:06AM

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MLS# 50195018

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Investment Insights

Based on property information with market context.

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

The hotel is 10 minutes from the airport and 20 minutes from Marquette, with direct access to ATV, ORV, and snowmobile trails. Hallways display photographs connected to the former K.I. Sawyer Air Force base in the area.

Key Highlights

• 7,263‑square‑foot hotel on 2.87 acres; built in 1990
• Guest room updates include smart TVs, furnishings, mini refrigerators, microwaves, bedding, mattresses, carpeting, and local artwork
• One room has a kitchenette suite for extended stays

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,812

Cap Rate

5.54%

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 5.54%

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 21.39%

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

Hotels

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

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?

Hotel - Guest amenities include a kitchenette suite, sauna, outdoor gathering space, and fenced areas for children and pets.

Where is this hotel located?

The property is located at 190 East M - 35 Highway Gwinn, MI.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: 7,263‑square‑foot hotel on 2.87 acres; built in 1990; Guest room updates include smart TVs, furnishings, mini refrigerators, microwaves, bedding, mattresses, carpeting, and local artwork; One room has a kitchenette suite for extended stays