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In-PersonVirtual Tour
$ 995,000
Est. payment | /mo
5,000 SqFt
$ 995,000
Est. payment | /mo
5,000 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $199
Subdivision Mc Evoy'S
MLS Listing ID 78080070236
Year Built 1950
Lot Size 0.400 Acres
Acres 0.4
Property Description
Turn-key, high-occupancy 18-unit + Owner's Quarters Motel investment in Sault Ste. Marie, MI delivering an exceptional 10.5% cap rate at 100% occupancy. This cash-flowing asset is ideal for an investor or owner-operator looking to capitalize on the Upper Peninsula's booming tourism, maritime commerce, university market-and what Perfect timing for a buyer with the New Lock at the Soo construction project slated to be ongoing until 2030. This ensures a sustained influx of contracted crews, corporate travelers, and industrial workforce housing demand directly to the immediate area.Outstanding 10.5% Cap Rate with proven year-round steady occupancy. Brand new roof installed in 2026, eliminating major near-term capital expenditures. Several guest units have been updated with new flooring and paint, to enhance procurement of the best lease rates. Electric baseboard heat paired with individual AC units in every room for optimized tenant comfort and energy efficiency. Customizable on-site manager/owner quarters are ready to be completed to your exact specifications. City approved floor plan included with sale, print available upon request. Owner's quarters projected rent is estimated to be $1000 to $1200 a month. Situated on a .40 acre corner lot along a high-visibility corridor just minutes from the historic Soo Locks, Kewadin Casino, and Lake Superior State University.Currently operating on month to month tenancy, but if you're thinking of converting this property back to nightly or weekly rentals for transient guests, this property location benefits from a steady stream of commercial travelers, seasonal tourists, and international cross-border traffic. Don't miss this rare, low-maintenance income producer fronting on the high visibility I-75 Business Loop with built-in equity growth potential. Financials available upon request.
Location
State MI
County Chippewa
Area Area17031Sootwp
Interior
Heating Baseboard, Electric
Fireplace No
Exterior
Parking Features ParkingLot
Utilities Available ElectricityConnected
View Y/N No
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Sault Ste Marie
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
©2026 Realcomp II Ltd. Shareholders
Listed by Sue Louiselle of Coldwell Banker Schmidt Traverse City
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