BHG Connections
Listed by BHG Connections
$1,850,000
1159 S Shore Drive
Details
APN 70-15-35-286-001
Property Type Business for Sale
Sub Type Business Only, Other
Square Footage 6,000
Units 14
NOI $65,689
Year Built 1950
Buildings 3
Acreage 0.800
Parking Spaces 17 spaces
Parking per 1,000 SqFt 2.83
Business for Sale | 6,000 SqFt
Marketing description
Discover an Exceptional Investment Opportunity at 1159 South Shore Drive! Step into a piece of history with this charming historical motel, ideally located just across the street from the bustling Central Market grocery store and mere steps away from the serene beauty of Lake Macatawa with 3 access points and beach. Offering 14 fully operational monthly rentals, including a cozy garage apartment and a private residence, and 13 units in the old motel, this property presents a unique opportunity for investors looking to capitalize on a an extended stay market that could allow shorter term 30 day rentals. With current NMU zoning regulations allowing for 1 short-term rental, the potential for increased revenue is immense if turned into a condo building or going for a non conforming rezoning. Imagine the possibility of adding a second floor maximizing your income potential and catering to the growing demand for vacation accommodations in this sought-after location. The back portion of the property is zoned CNR Cottage neighborhood residential, so you could build 2 homes if the garage was taken down.
Act now to secure this incredible investment opportunity!
Listing Contacts
BHG Connections
Listed by BHG Connections
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$65,688.85
$5,474.07/mo
Valuation Metrics
0
DSCR
3.55%
Cap Rate
3.55%
ROI
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