Established motel, high occupancy, great location.
Description
Added:
Dec 11, 2024
Days on Market:
393
This thriving 14-unit motel in Atlanta, MI, presents a compelling investment opportunity. Boasting 100% occupancy, the property features 7 units with full kitchens and 7 with mini-fridges and microwaves, catering to diverse guest needs. Recent renovations (2015, 2016, 2017, 2019, 2020) include a new roof and siding, ensuring long-term value. An on-site laundry room adds convenience. Situated on a 0.64-acre lot, the single-story building is zoned commercial. Its prime location offers easy access to local amenities, including eateries, a grocery store, and festivals, as well as Briley Park with its fishing dock and boat launches. The motel benefits from its proximity to Gaylord and Alpena, providing access to larger shopping centers, airports, a marina, and beaches. Atlanta's reputation as the "Elk Capital of Michigan" attracts tourists year-round, with events like the annual Elk Festival and the Sno-Drift Rally boosting seasonal demand. The surrounding area offers abundant recreational opportunities, including thousands of acres of state land, lakes, and trout streams, making it an ideal destination for hunting, fishing, and outdoor enthusiasts. The Thunder Bay River, a blue-ribbon trout stream, further enhances the area's appeal. This established business, with a history of positive customer reviews, offers a strong foundation for continued success and growth. The property's potential extends beyond short-term rentals, with the possibility of utilizing the kitchen-equipped units for monthly rentals, addressing a local need for affordable housing. This is a turnkey operation ready for a new owner to continue its success.
Property Features for 12520 State St
General Information
Property type
Motels
Lot Size
27,878 SF
Building Details
Buildings
1
Stories
1
Units
14
HighLights
Motel for sale in Atlanta, Michigan.
Atlanta, Michigan motel.
14 rental units.
Conveniently located near ORV trails.
Motel boasts 5‑star guest reviews.
Excellent business opportunity in Atlanta, Michigan.
Motel - Established motel, high occupancy, great location.
Where is this motel located?
The property is located at 12520 State St Atlanta, MI.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Motel for sale in Atlanta, Michigan.; Atlanta, Michigan motel.; 14 rental units.
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12520 State St Atlanta, MI 49709
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Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
12520 State St Atlanta, MI 49709
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12520 State St, Atlanta, MI
Diane Ives
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12520 State St, Atlanta, MI
Diane Ives
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12520 State St, Atlanta, MI
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12520 State St, Atlanta, MI
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to 12520 State St Atlanta, MI 49709
12520 State St, Atlanta, MI
Diane Ives
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