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1180 North Shore Drive

Mears, MI 49436
  • $8,900,000
  • STATUS: Active
  • ON SITE: 237 Days
  • MLS #: 1914843
$8,900,000
  • 0
    BEDS
  • 2.29
    ACRES
  • 77
    BATHS
  • 0
    1/2 BATHS
  • 63,000
    SQFT
  • $141
    $/SQFT
Type:
Commercial
Built:
1993
County:
Area:

School Ratings & Info

Description

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 10% cap rate at ask price. The property has been very well maintained including a new roof and siding. 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 not to call the hotel directly. Financial and additional documentation is available upon request.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-04-03T23:52:00.493.
www.brickcorbett.com/homes/142677346
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1180 North Shore Drive Mears, MI 49436

  • Price: $8,900,000
  • Status: Active
  • On Site: 237 Days
  • MLS #: 1914843
0
Beds
77
Baths
0
½ Baths
2.29
Acres
63,000
SQFT
$141
$/SQFT
1993
Built
Neighborhood:
The Dunes Waterfront Resort
County:
Oceana
Area:
Oceana
Property Description
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 10% cap rate at ask price. The property has been very well maintained including a new roof and siding. 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 not to call the hotel directly. Financial and additional documentation is available upon request.
Exterior Features

Body Of Water Silver Lake Construction Block Exterior Features Vinyl Foundation WalkoutPartialSlab Lake Size 750 Acres Lot Dimensions 180X400X300X750X150 Parking CommonPavedParking Lot Road Public Maintained Roof Asphalt Water Front Footage 180

Interior Features

Heating Cooling Type Forced Air

Property Features

Business Incl Yes Business Name The Dunes Deeded Waterfront Yes Documents On File Furniture & FixturesFinancialInventoryLegal DescriptionTax Returns Eco Features No Energy Efficient Not Applicable Extras Phone SystemSecurity SystemSprinkler SystemFurniture/FixturesAdditional BuildingsElevator Heating Cooling Source Electric Included In Lease None Inventory Incl Yes Licenses None Listing Agreement Type Exclusive Right to Sell Location Freestanding Possession At ClosingNegotiable Present Use Recreational/Resort Private Shared Private Real Estate Incl Yes Renewable Not Applicable Sale Or Lease For Sale Sale Rent For Sale Section Number 29 Sewer Private Septic Terms Conventional MortgageCash1031 ExchangeOther Township Golden Twp Type Hospitality Type Of Ownership Private Owner Univs Design Barrier Free Main Floor AccessNo Steps EntryRamped EntranceRoll-In ShowerElevator Vacant Land No Water Private Well Water Conservation Not Applicable Zoning CommercialMotel/Hotel

Listing information © 2024 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Berkshire Hathaway Home Svcs: 231-547-9905.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-04-03T23:52:00.493.
 
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