201 Steele St Algoma, WI 54201-1264

This exceptional commercial property at 201 Steele Street in Algoma, Wisconsin presents a unique investment opportunity. The property, a thoughtfully renovated historic hotel, restaurant, and bar, boasts a total of 12,844 square feet situated on a 0.21-acre lot. Originally constructed in 1857 with the majority of the current structure dating back to 1905, this building offers a blend of historical charm and modern conveniences. The hotel features beautifully appointed rooms and suites, with a notable four-bedroom, two-bathroom suite on the third floor providing stunning waterfront views. Its prime location, just two blocks from Lake Michigan and Crescent Beach, provides unparalleled access to the waterfront boardwalk, beach, and the vibrant local scene, including a winery, brewery, art studios, and boutique shops. The nearby Door County region, known as the "Cape Cod of the Midwest," further enhances the property's appeal and potential for tourism. The property's bar and restaurant inventory is not included in the asking price of $875,000 but can be purchased separately via a Bill of Sale. All furnishings within the hotel rooms and suites are included in the sale. The seller is offering a 30-day transition assistance period to ensure a smooth transfer of ownership. Detailed financial information is available upon request and with a formal offer. This property is ideal for both short-term and long-term rental operations.