Property summary
This exceptional investment opportunity presents a vacant 40,000 square foot retail property situated on 6.27 acres of prime waterfront land in Harsens Island, Michigan. The property, formerly the Idle Hour Yacht Club, boasts 383 feet of frontage directly on the South Channel, overlooking Walpole Island. Features include two entry canals, 52 boat wells with power hookups, steel seawalls, and a resort liquor license currently in escrow. The substantial building encompasses multiple hotel rooms and apartments, suites, a commercial kitchen, large dining area, entertainment/banquet area, full-size bar, and walk-in cooler. Large freshwater storage tanks support kitchen, restaurant, and bathroom facilities. Ample parking is available. The property includes an engineered septic field and a current lease agreement with U.S. Customs and Border Patrol for use of a Homeland Security tower, providing a consistent income stream. The property consists of two parcels with two separate driveways. The building's exterior is constructed of aluminum and vinyl. The foundation is slab, and utilities include natural gas and a well/septic system. Winter taxes are $5,282, and summer taxes are $14,660. This iconic landmark presents a unique opportunity for redevelopment or continued operation as a marina and hotel/motel. The asking price is $1,499,999.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-3 · Harsens Island, MIZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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