Log In/Sign Up
Your email has been sent.
1582 N US 31 Hwy
Traverse City, MI 49686
Seasons Inn · Hospitality Property For Sale
·
43 Rooms
Investment Highlights
- Located on the main corridor in Traverse City, MI , a major tourist destination
- Elevator and indoor pool
- Compact building with manageble number of rooms great for an owner operator.
Executive Summary
Excellent location in one of Michigan's premiere tourist destination markets.
Priced at a 3.5 revenue multiple and a 10% cap rate.
Seller has an SBA loan and his bank will do another SBA loan for the buyer.
Two-story building with an elevator and indoor pool.
Renting 43 of 44 rooms. Seller uses one room occasionally but keeps it out of rentability. Hotel currently generates approximately $26K per room revenue and the 44th room could be put back into rental.
Priced at a 3.5 revenue multiple and a 10% cap rate.
Seller has an SBA loan and his bank will do another SBA loan for the buyer.
Two-story building with an elevator and indoor pool.
Renting 43 of 44 rooms. Seller uses one room occasionally but keeps it out of rentability. Hotel currently generates approximately $26K per room revenue and the 44th room could be put back into rental.
Property Facts
| Price Per Room | $123,761 CAD | Lot Size | 1.06 AC |
| Sale Type | Investment | Building Size | 16,071 SF |
| Cap Rate | 10% | No. Rooms | 43 |
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1998/2022 |
| Building Class | C | Corridor | Interior |
| Zoning | HR | ||
| Price Per Room | $123,761 CAD |
| Sale Type | Investment |
| Cap Rate | 10% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 16,071 SF |
| No. Rooms | 43 |
| No. Stories | 2 |
| Year Built/Renovated | 1998/2022 |
| Corridor | Interior |
| Zoning | HR |
Amenities
- Business Center
- Indoor Pool
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 43 | $63.86 CAD | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $2,201,638 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,201,638 CAD
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
