9 Unit Motel plus Two Bedroom Unit

Hospitality for Sale
Catylist Listing ID: 30557125
Property Subtypes: Motel
Number of Units: 10 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 0.77 Acres
Sale Price: $139,000
Unit Price: $13,900 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Name of Establishment: Alger Motel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/17/2020

Overview / Comments

Clean and well managed 9 unit motel with a two bedroom unit in the center being occupied by the motel manager. Peaceful rural setting located just off I-75 for convenient access. Roof was replaced in 2016 with further improvements in 2017. There is an interior hallway connecting all of the units for comfort of the tenants. A vending machine exists for snacks and is part of the purchase price.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $1,979 (Annual)
Assessed Value - Total($) $41,300 (Annual)

Additional Details

Nearest MSA: Bay City
County: Arenac
Taxing Authority: Township of Moffatt
Tax ID/APN: 008-0-A20-010-045-00
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Casino
Property Visibility: Good
Highway Access: I-75, M-76
Property Condition: Good
Year Built: 1955
Year Renovated: 2016
Roof Type: Gable
Construction/Siding: Wood Frame
Parking Type: Surface
Heat Type: Electricity, Propane
Heat Source: Baseboard
Air Conditioning: Window Unit
Water Service: Well
Sewer Type: Septic
Legal Description: T20N R3E SEC 21 LT 8 S ALGER SUBDIV ALSO PC OF LND BEG 412 FT W OF SE COR OF NE 1/4 OF NW 1/4 SEC 21 TH NWLY 238 FT TH SWLY 64 FT TO R/W OF HWY M-76 TH SELY 204 FT TH E 69 FT TO POB OLD ALGER HOTEL

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,088 6,180
Median Age: 49.86 45.14
Households: 454 2,546

Contact

Photograph of Listing Agent

Sandra J. Covaleski, CCIM

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