$343.01 Per Sq Foot $3,489 est/mo Sourced by Back At You

13990 E Chicago Road,Cement City, MI 49233

Cement City MI, 49233

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Description

Located in the heart of the lake country, Somerset Motel continues to be a staple in the community for over 37 years serving everyday travelers, Michigan Speedway guests, Faster Horses fans, golf outing group, wedding parties, and family reunions. Offered for sale is the 1900 sq. ft. home with 14 rental units and a community room, all on five acres. The sprawling ranch home features a business office, 3 bedrooms, 3 bathrooms, living room, kitchen, dining room, walk-up attic, and full walkout basement with commercial laundry. The home offers garage space for 3 vehicles. The N units and community room (bonus income) total 2130 sq. ft. and the W units total 2450 sq. ft. All units on the property are furnished and have refrigerator, microwave, heat, A/C, cable TV, ...(more remarks)... ...(more remarks)... Wi-Fi, and phones. On 5 acres, huge yards offer firepit and room tents, pavilion, and outdoor games. Opportunity exists to be an onsite owner or make the home 1 or 2 additional units. Do not trespass, disturb owners, or disturb tenants. Cash, Commercial Loans, 1031 Exchanges. 15% CAP RATE. No Land Contract sales. Qualified Purchasers should contact a Commercial Realtor with your questions or schedule a private tour.

Details

MLS#24007082
Listing TypeFor Sale
Building NameSomerset Motel
Sub-TypeResale
StatusActive Contingent
Year1950
Days On Site65
Listing Provided ByBNR Real Estate Group | Doug Beiswanger

Features

Bath(s) 17 Total
SQ Feet1,895
BasementY
Story(s)2
Units16
Building(s)3
Acreage5.00

Market Activity 49233

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Learn More About This Property

StateMI
CountyHillsdale
CityCement City
Zip Code49233
AreaHillsdale County X
SubareaX
School DistrictAddison
Listing VS Median (in 49233)
Price:
$650,000
low | high
Med:
$278,450
100% of Average
SqFt:
1,895
low | high
Med:
3,236
20.765171503958% of Average
$ / SqFt:
$343
low | high
Med:
$94
100% of Average
On Site:
65
low | high
Med:
529.500000
12.275731822474% of Average
Sourced by Back At You
Listing Updated: April 16, 2024 at 3:10:50 AM PDT
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