$8,900,000

MLS 1914843
1180 North Shore Drive Mears, MI 49436  
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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.
Price $8,900,000 County: Oceana Zoning:  Commercial,Motel/Hotel
Area: Oceana Waterfront Feet: 180 Sewer: Private Septic
Lake/River:  Silver Lake Lot Size: 180X400X300X750X150 Heat: Forced Air
Township: Golden Twp Water: Private Well Acres: 2.29

 
For more information contact:
Morris Richardson Real Estate
989-345-2828

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Listing provided by NGLR Association of Realtors, database last updated Saturday June 15, 2024
 
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