Boutique Hotel with Event
2287 S Main Street Central Lake, MI 49622
2287 S Main Street, Central Lake, MI, 49622
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For Sale
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Boutique hotel and event space featuring five suites, private baths, and a remodeled speakeasy/barrel room.
Property Size3,200 SF
Price / SF$265.63
Days on Market23
Property Features for 2287 S Main Street
General Information
- Standard status
- Active
- Size
- 3,200 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1895
Listing agency
CENTURY 21 Northland Elk Rapids
Listed by
Kellie Sergent · License #MI
Source
Crexi
Added: Jun 29 Updated: Jul 20 at 10:11PM Checked: Jul 20 at 10:11PM
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 CENTURY 21 Northland Elk Rapids
Investment Insights
Based on property information with market context.
Bridgewalk Estates is a boutique hotel and event space that combines guest accommodations with indoor social areas. The property features five suites, each with a private bath, along with a sitting room and a piano room. Common areas include a large dining area, with a shared kitchen and on-premise laundry. The lower level has been remodeled as a speakeasy/barrel room, which can accommodate guests or be used for special events. An owners suite with a bath is located just off the garage, and the owners suite has been recently remodeled.
Set in Central Lake, the property is described as walkable to stores and named local businesses. It is also minutes from a public boat launch and park for access to Intermediate Lake.
The grounds include a creek that runs through the property, along with a deck overlooking the area, fire pit, and multiple lounging areas. The hotel is offered turn-key with items included.
Set in Central Lake, the property is described as walkable to stores and named local businesses. It is also minutes from a public boat launch and park for access to Intermediate Lake.
The grounds include a creek that runs through the property, along with a deck overlooking the area, fire pit, and multiple lounging areas. The hotel is offered turn-key with items included.
Key Highlights
- Boutique hotel and event space built in 1895, currently income producing
- 5 suites with private baths, plus a sitting room and a large dining area
- Lower level features a remodeled speakeasy/barrel room that can host guests or be rented for special events
Local Financial Insights For Specialty Retail
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 | $49.5k | $15.48 |
| − Vacancy | −$2.1k | −$0.65 |
| EGI | $47.5k | $14.83 |
| − OpEx | −$11.9k | −$3.71 |
| NOI | $35.6k | $11.12 |
3,200 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$508.5K
$444.9K – $593.2K
NOI $35,592 @ 7.0% cap · market cap 4.19%
Second Best
Hotel Hospitality
$179.1K
$156.8K – $209.0K
NOI $12,540 @ 7.0% cap · market cap 1.48%
Theoretical Best
Office A
$569.5K
$498.3K – $664.4K
NOI $39,863 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wanderlust Abodes
Vacation Rental
The Flat | a Wanderlust Abodes ...
Vacation Rental
BW Boutique Hotel ...
Hotel & Motel
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FAQs
What type of property is this?
Hotel - Boutique hotel and event space featuring five suites, private baths, and a remodeled speakeasy/barrel room.
Where is this hotel located?
The property is located at 2287 S Main Street Central Lake, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Boutique hotel and event space built in 1895, currently income producing; 5 suites with private baths, plus a sitting room and a large dining area; Lower level features a remodeled speakeasy/barrel room that can host guests or be rented for special events
