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5692 N US Highway 31 13 Unit Apartment Building $690,980 CAD ($53,152 CAD/Unit) 11.54% Cap Rate Levering, MI 49755
INVESTMENT HIGHLIGHTS
- High visibility, close to Mackinaw Bridge, Mackinac Island, Casinos and I-75 access points
EXECUTIVE SUMMARY
LOCATION NOT TO MISS~The Levering Motel features 13 total rentals, with 11 studio rooms, 1 larger corner unit, attached house/office unit, Paved open parking court, maintenance shed and on site coin-op laundry. 9.6% Cap Rate. Excellent rental history with high year round occupancy. Keep the building as individual rental units or convert back to motel for seasonal tourist income. B-2 zoning offers amazing potential opportunities for this 1 acre parcel. This high visibility location is just minutes to Pellston Airport, Mackinaw City, Casinos, Lakes and Parks. Step right in to this turnkey rental business and level up! Terms may be available.
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Microwave
- Refrigerator
- Sprinkler System
SITE AMENITIES
- Laundry Facilities
1 1
PROPERTY TAXES
| Parcel Number | 10-10-03-251-012 | Total Assessment | $198,474 CAD (2025) |
| Land Assessment | $27,071 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $171,403 CAD (2025) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
10-10-03-251-012
Land Assessment
$27,071 CAD (2025)
Improvements Assessment
$171,403 CAD (2025)
Total Assessment
$198,474 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2022
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5692 N US Highway 31
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