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34584070
34584069

16878 CO RD 505, Newberry, MI 49868 For Sale

MS
MI 6501458601
Hayden Outdoors Michigan
Hayden Outdoors Real Estate
Listed by Hayden Outdoors Michigan, Hayden Outdoors Real Estate
$1,595,000
1 day on market
Updated 1 day ago

Halfway Lake Cottages

Details
Property Type Hospitality
Sub Type Hotel, Resort
Units 9
Beds 20
Cap Rate 8.30%
NOI $132,159
Broker Co-Op True
Year Built 1952
Year Renovated 1995, 1996, 2000
Buildings 10
Acreage 25.000
Zoning Commercial Business Improved
Investment Type Owner/User

Turnkey 8-Cabin Resort on Private Halfway Lake – 1,700 Ft Frontage, 25± Acres, UP Michigan

Marketing description

Halfway Lake Cottages is a turnkey waterfront resort on approximately 25 acres with nearly 1,700 feet of frontage on private Halfway Lake. The property includes eight rental cabins, a guest house, owner's residence, garage, and pole barn. Located in Michigan's eastern Upper Peninsula near Tahquamenon Falls and extensive trail systems, this established business offers income potential, recreational access, and a private Northwoods setting.

Experience the beauty, peace and tranquility of the great north woods on Halfway Lake, a 65 acre private lake encompassed by a woodland setting. Fall asleep listening to nesting loons call and enjoy your morning coffee from your porch while watching an eagle catch breakfast. This is a special place in the U.P.

The property is divided between the developed resort area and a large, wooded waterfront tract that provides privacy, natural beauty, and future recreational or development potential.

The cabins, owner's residence, and supporting improvements are situated near the northern portion of the property with convenient access from either 407 (main road) or 505 (resort road). The southern portion consists primarily of mature mixed timber and undeveloped lakefront acreage, creating a secluded Northwoods setting while preserving significant shoreline ownership.

The combination of established amenities, exceptional lake frontage, and wooded acreage offers a unique balance of income-producing infrastructure and unlimited recreational opportunities.

Investment highlights

  • Nearly 1,700 feet of frontage on private Halfway Lake
  • Eight rental cabins with modern conveniences
  • Guest house with open floor plan
  • Owner's residence with rental office
  • 2 bedrooms including linens
  • Bathroom with a tub and shower
  • Living and dining area
  • Full kitchen with Refrigerator, Microwave, Stove & oven, Dinnerware, Cookware, Coffee pot, Toaster
  • Satellite TV
  • Wi-Fi Internet
  • Cedar Dock for fishing (no license required)
  • Swimming, Rowboats, Canoes, Kayaks, Lifejackets
  • Fire ring, Charcoal grills, Gas grill, Picnic tables
  • Children's playground equipment
  • Large parking area
  • Full basement with laundry facilities and half bath
  • Attached gazebo
  • Garage and pole barn
  • Direct access to groomed trails
  • Rated the #1 place to stay in Newberry by Tripadvisor

Listing Contacts

MS
MI 6501458601
Hayden Outdoors Michigan
Hayden Outdoors Real Estate
Listed by Hayden Outdoors Michigan, Hayden Outdoors Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$132,159.00
$11,013.25/mo

Valuation Metrics

0
DSCR
8.29%
Cap Rate
8.29%
ROI

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Additional Information

Name
Mollie Sheridan
License
6501458601
Brokerage
Hayden Outdoors Real Estate
Brokerage Phone
9062217516
Title
Real Estate Sales Person
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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