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    Retail properties & Spaces

    27837 Us Highway 41, Baraga, MI 49861

    3,986 SF 3.43 ac lot Built 1962
    Property ID
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
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