$ 995,000
-
$995,000
Price -
0
Bed -
0
Bath -
5,000
SqFt
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About the Listing 61019 - NGL-T398935
Turn-key, high-occupancy 18-unit + Owner's Quarters Motel investment in Sault Ste. Marie, MI delivering an exceptional 10.5% cap rate at 100% occupancy. This cash-flowing asset is ideal for an investor or owner-operator looking to capitalize on the Upper Peninsula's booming tourism, maritime commerce, university market-and what Perfect timing for a buyer with the New Lock at the Soo construction project slated to be ongoing until 2030. This ensures a sustained influx of contracted crews, corporate travelers, and industrial workforce housing demand directly to the immediate area.Outstanding 10.5% Cap Rate with proven year-round steady occupancy. Brand new roof installed in 2026, eliminating major near-term capital expenditures. Several guest units have been updated with new flooring and paint, to enhance procurement of the best lease rates. Electric baseboard heat paired with individual AC units in every room for optimized tenant comfort and energy efficiency. Customizable on-site manager/owner quarters are ready to be completed to your exact specifications. Save months of prep work with the available stamped and city-approved architectural floor plans. Situated on a .40 acre corner lot along a high-visibility corridor just minutes from the historic Soo Locks, Kewadin Casino, and Lake Superior State University.Currently operating on month to month tenancy, but if you're thinking of converting this property back to nightly or weekly rentals for transient guests, this property location benefits from a steady stream of commercial travelers, seasonal tourists, and international cross-border traffic. Don't miss this rare, low-maintenance income producer fronting on the high visibility I-75 Business Loop with built-in equity growth potential. Complete financials, and architectural floor plan blueprints for owner's quarters are available upon request.Owner's quarters is vacant, but projected rent once completed is estimated to be $1000 to $1200 a month.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Business Opportunity
MLS ®
80070236
Year Built
1950
Total Square Footage
5,000
Lot/Acreage
0.4
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 5000
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 150x125
- Zoning: Other
- Roof:
- Others:
- Sewer: Public Sanitary
- Parking Features: Parking Lot
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
1800 Ashmun Sault Sainte Marie, MI 49783
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