Resort Property With
New
For Sale
$2,300,000
9325 Dwight Boyer Road, Watervliet, MI 49098
The site includes a dock and gravel exterior surfacing, with central air and additional window-unit cooling.
Property Size26,320 SF
Days on Market2
Property Features for 9325 Dwight Boyer Road
General Information
Standard status
Active
Size
26,320 SF
Zoning
RE
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$18,411
Amenities
Bath Common Area
None, Central Air, Window Unit(s)
Forced Air, Oil, Propane
Gravel
Dock
Building Details
Building Size
26,320 SF
Year Built
1934
Buildings
10
Stories
6
Listing Agency:
Michigan Lifestyle Properties / Gull Lake Realty
Listed By:
Emily E Wilke
(269) 615-4572
Source:
Evrealestate
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:30AM
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 Michigan Lifestyle Properties / Gull Lake Realty
Investment Insights
Based on property information with market context.
Ronora Lodge & Retreat Center is a resort property built in 1934, with a dock and gravel exterior surfacing. Interior features include central air conditioning and window units, with forced-air heating fueled by oil or propane. The property is zoned RE.
The entrance driveway is on the north side of Dwight Boyer Road, approximately one-half mile east of M-140.
The entrance driveway is on the north side of Dwight Boyer Road, approximately one-half mile east of M-140.
Key Highlights
- Resort property built in 1934
- Dock on site
- Gravel exterior surfacing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,648
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,812,960
$2.8M
Cap Rate 7%
$2,009,257
$2.0M
Cap Rate 9%
$1,562,756
$1.6M
Market Conditions
NOI Build-Up for 26,320 SF
Gross rent
$394.8K $15.00/SF
− Vacancy
−$98.7K −$3.75/SF
EGI
$296.1K $11.25/SF
− OpEx
−$155.5K −$5.91/SF
NOI
$140.6K $5.34/SF
Area
Berrien 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%
$2,812,960
Cap Rate 7%
$2,009,257
Cap Rate 9%
$1,562,756
Alternative Uses
Best Use
Hotel Hospitality
$2.01M
$1.76M – $2.34M
NOI $140,648 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.54M
$4.85M – $6.46M
NOI $387,690 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 49098, MI
5,739
Population
3,032
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
88%
High-School Grad
32.6 sq mi
ZIP Area
176
Density / Sq Mi
$56,899
Median Household Income
$30,278
Median Earnings
$1,253
Median Rent
$150,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Resort - The site includes a dock and gravel exterior surfacing, with central air and additional window-unit cooling.
Where is this resort located?
The property is located at 9325 Dwight Boyer Road Watervliet, MI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Resort property built in 1934; Dock on site; Gravel exterior surfacing
