Active
1180 N Shore Drive
Mears MI, 49436
$8,900,000
$141.27 per sqft
Active
74 Beds
75 Baths
63,000 sqft
Commercial
The Dunes Waterfront Resort is a 74 unit waterfront hotel on the sandy shores of Silver Lake and the world famous Silver Lake Sand Dunes which border Lake Michigan to the West. Best known for the ORV and ATV riding Silver Lake is one of Michigan's most popular summer destinations. The Hotel is being offered turn key with a seasonal staff in place which can be managed by a semi-passive investor or professional management co. Historically the property has been a 5 month per year operation and supports a 11%+ cap rate at ask price. The property has been very well maintained with a new roof and siding recently. Additional land with storage facilities is located just across the street and included in this offering. of the 74 spacious guest rooms/suites; 45 are facing the water with private balconies and dramatic views of Silver Lake and the sand dunes. The top floor has a large indoor swimming pool, conference rooms, prep kitchen, game room/arcade. Some of this space could be converted to luxury suites or food and beverage operation with the best views the property has to offer. Adjacent to the lobby and front desk operations is a manager's office & apartment. One of the only resort properties operating in the area and the highest standards of accommodations in all of Silver lake has resulted in a high rate of repeat business, steadily increasing ADR and subsequent high cash flow. Interested parties are asked not to communicate with on-site staff and are asking to contact the listing brokers or licensed real estate broker for assistance and showing opportunities. Financial and additional documentation is available upon request.
471772
MLSⓇ ID
May 9, 2024
Updated
Map
1180 N Shore Drive
Mears MI, 49436
Interior Features
Bedrooms
74
Total Bathrooms
75
Full Bathrooms
75
Laundry Description
74
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
Lot Size
3 Acres
Roof
Asphalt Shingle
Sewer
Septic
School Information
School District
15n/18w
High School
Other
Elementary School
29
Other Property Details
Area Name
Other
Taxes
$63,000
Tax Frequency
Annually
Garage
No
View
No
County
Other
Municipality
Other/See Remar
Water Source
Township
Pool
No
Waterfront
Yes
Zoning
Resort
Listed by Richard Lobenherz with Berkshire Hathaway HomeServices Real Estate
Listing Contact: 231-675-6285
The IDX display contains information sourced from the Emmet Association of REALTORS® as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 5/9/2024 at 8:35 AM UTC