Business Incl. Building - Ontonagon, MI
OPPORTUNITY in ONTONAGON.........it doesn't get much better than this....an opportunity to live and work in this charming Village on the shores of Lake Superior, the Greatest of the Great Lakes....... INN-TOWNE Motel and Apartments, located in downtown Ontonagon, walking to all shops and restaurants...and Lake Superior, and the Ontonagon river...19 mi to the Porcupine Mt. State Park...this is a business opportunity! Occupancy levels were strong this past year...and the buildings have been well-maintained...with ongoing décor updates, new windows in recent years, furnaces in 2010... Lake Superior, Ontonagon River, Porcupine Mtn. State Park attract leisure visitors on a year'round basis... There are 13 rooms.....and the apartment building has been totally renovated with six updated apartments. Four apartments are $550/month, two apartments are $450/month. New rubber roof on hotel building: 2004. 3 water heaters. Good financials: Tax returns available to qualified buyers with signed confidentiality agreement. Laundry outsourced. Plan to widen street by Village in place. Community has a new bridge, theatre for the performing arts, Ontonagon River & Lake Superior. Basement is partial & crawl space. 4,400 sq. ft. (motel) & 6,000 sq.ft. (hotel). Year built: 1920-1957-1966. Alarm system in motel only. Motel parking. New windows in hotel building.
Would you like more information regarding this property?
Please call (906) 482-1000.
Data Provided by:
Upper Peninsula Association of Realtors