Listed by The Herish Group
$310,000
Oberlin Motel
Details
Property Type Hospitality
Sub Type Hotel, Motel
Square Footage 2,688
Units 25
Cap Rate 24.50%
NOI $76,200
Tenancy Multi
Class C
Year Built 1952
Year Renovated 2020
Stories 2
Acreage 0.320
Zoning R-1 SF PUD
Investment Type Owner/User
Hospitality | 24.50% CAP | 12 Keys
Marketing description
This 10 Room, 2 Apartment Property presents a rare, high-yield acquisition opportunity featuring a phenomenal 24.5% Cap Rate: the Oberlin Motel, located at 11355 Saginaw St in Mt. Morris, Michigan. This 2,688 SF hospitality asset operates seamlessly as a high-demand, daily and weekly extended-stay motel. Offered at an incredibly low entry price of just $310,000, the property delivers immediate, robust cash flow with a Gross Income of $110,000 and a powerful Net Operating Income (NOI) of $76,200.
Investment highlights
- The Oberlin Motel is Operating as a Daily | Weekly Extended-Stay Motel.
- Ten Motel Rooms, Two Apartments, and a Three-Bedroom Manager's Apartment
- Surrounded by National Retailers such as Kroger, McDonald's, KFC, Bigby, Subway, Etc.,
- Main Retail Corridor | Near Interstate- 475 | Walking Distance to Downtown Mount Morris.
- 25 Total Parking Spaces, $30,000 in Recent Renovations | Vinyl Flooring
- 100' Feet of Frontage on the Heavily traveled N Saginaw Rd.| 20,000 Vehicles Per Day
- Median Home Value= $92,000 | 24,000 People within a Three Mile Radius.
Listing Contacts
Listed by The Herish Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,200.00
$6,350.00/mo
Valuation Metrics
0
DSCR
24.58%
Cap Rate
24.58%
ROI
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