3025 Us-23 Cheboygan, MI 49721

Property Details for 3025 Us-23

Lot size

2.46 lot acres

Property size

3,436 SF

Property type

Hospitality properties

Property subtype

Motels

Description

Exceptional investment opportunity in Cheboygan, Michigan, this established motel boasts 10 beds across 9 rental rooms and a 1,200 sq ft house, all currently at 100% occupancy. The property includes a 720 sq ft garage with workshop and an adjacent parcel, totaling nearly 2.5 acres. Recent upgrades include a new water heater and boiler assist (2017) and three new septic tanks (2016). The motel's prime location, just 2 miles from downtown Cheboygan and 20 minutes from Mackinaw City, offers significant income potential, leveraging the area's high tourism. The proximity to Mackinac Island and the Mackinac Bridge, along with access to the Great Lakes Inland Waterway, ensures consistent demand. Rooms are currently rented month-to-month, but easily adaptable to short-term rentals (VRBO/Airbnb). The asking price is $319,000, representing $31,900 per key and $92.84 per square foot of the 3,436 sq ft building. The property offers ample parking (20 spaces) and potential for expansion. A land contract may be considered for qualified buyers. This is a rare chance to acquire a profitable, established business in a high-demand tourist destination.

Location Insight

City

Cheboygan

County

Cheboygan

State

Michigan

Longitude

-84.4331

Latitude

45.6395