Property profile

27837 Us Highway 41 Baraga, MI 49861

OFF-MARKET
Retail properties & Spaces
3,986 SF 3.43 ac lot Built 1962
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 10-room motel, situated on nearly 3.43 acres in Baraga County, Michigan, presents a lucrative investment opportunity. Built in 1962 and boasting 3,986 square feet, this property enjoys a prime location directly on US Highway 41, attracting a diverse clientele including leisure and business travelers, construction workers, sports enthusiasts, and families. The motel features outside room access for guest convenience and includes a completely renovated, two-bedroom owner's unit with a half basement. Recent updates include energy-efficient double-pane vinyl windows and exterior siding. Amenities include a motel office with a continental breakfast area, a small gift shop featuring unique Upper Peninsula items, and ample parking for cars, large vehicles, campers, boats, and trailers. The expansive backyard offers a fire pit, and potential for future additions like a gazebo or gathering spaces. Extensive storage is available with a detached garage, pole building, workshop, and shed. The property's location offers easy access to several beautiful lakes, including Beaufort, Ruth, and Lake George, and is near Craig Lake State Park, Van Riper State Park, and McCormick Trails. Its proximity to snowmobile trail #8 and major universities in Marquette and Houghton makes it an attractive year-round destination. The mailing address is Michigamme, but the motel is located in Three Lakes, five miles west. This turnkey operation is ready for a new owner to capitalize on its potential.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1962
Total area 3,986 SF
Lot 3.43 ac (149,411 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

27837 Us Highway 41 Baraga, MI 49861
Baraga metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 27837 Us Highway 41?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message