Description
The famous Portage Lake Motel is available for purchase, located on the shores of Portage Lake with 13 units plus a cottage offering great summer vacations. Revenues are anticipated to be $250,000 this year. All rooms have been updated and refurbished. Most of the rooms and cottage have been reserved this summer (room rates are 10% than last year). The lakefront features almost 140 feet, 2 docks and a nice sandy beach and lake bottom. Visit www.portagelakemotel.com to view all of the rooms and the lakeside cottage. There is an on-site manager and housekeeper so you can purchase and just make a good return on your money or manage it yourself for a great income. The asking price can result in a cash flow providing over a 13% rate of return on your investment.
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IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, ©2022 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Updated: 31st March, 2023 5:05 AM (UTC)
Listing Agent: Charles D Smith
Listing Office: RE/MAX Bayshore Manistee
