57440 M-40 Marcellus, MI 49067
- Hospitality properties
- 10.00 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 57440 M-40
- Year built
- 2020
- Lot size
- 10.00 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 6-building hospitality investment opportunity in Marcellus, Michigan, presents a unique chance to acquire a thriving hotel with significant upside. The 10-acre property, zoned commercial, currently features 5 cabins operating as nightly rentals, boasting 5 keys and 5 beds. Built in 2020, the property offers a 6.23% cap rate and a substantial $46,734 NOI. However, with a pro-forma cap rate of 20.85% and a pro-forma NOI of $156,403, the potential for increased profitability is undeniable. The property's current low occupancy is primarily due to limited marketing efforts, presenting a clear path to significant revenue growth. Permitted zoning allows for the addition of 5 more cabins, further enhancing the investment's potential. Existing agreements with nearby venues offer opportunities to increase occupancy and revenue. The property's proximity to public hunting lands also presents an untapped market for seasonal rentals. This turnkey operation, priced at $750,000 ($150,000 per key), is an ideal owner-user investment with substantial value-add potential. The property's location at 57440 M-40, Marcellus, MI 49067, provides easy access to local attractions and amenities. This is a rare opportunity to acquire a well-established hotel with the potential to significantly increase profitability through strategic marketing and expansion.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marcellus
- County
- Cass
- State
- Michigan
- Longitude
- -85.7999
- Latitude
- 41.9569
