Description
Are you ready for a business opportunity of a lifetime!!?? Would you like to own an amazing established Inn with 2040 sq ft that makes up the 8 guest rooms, as well as 1660 sq foot of living quarters for the owners to call home right onsite. The living quarters and all rooms will come fully furnished. Guest rooms including beds, furniture, linens, coffee pot, TV, refrigerator (3ft in all rooms) and microwave. 9 Oaks Inn already has dedicated cliental, and the business has an impressive cap rate of almost 9% in 2022, and the cap rate for 2023 is estimated to be over 17%. This breathtaking country setting with almost 3.5 acres of quiet and private open space, ready and waiting for you to take over. This beautiful property has the potential for you to expand, and the best feature of this investment opportunity is that you and the guests get to enjoy being outside of the city, but close enough to head to town for shopping and restaurants, or if water is your oasis, head just 4 short miles to Higgins Lake!! Guests currently enjoy the cleanliness of the rooms, along with the inviting and peaceful surroundings. The backyard is breathtaking and has so much space for groups to enjoy family events. Guests can walk the property, relax, or enjoy playing in the open space. Enjoy the firepit, Summer kitchen, and wedding/shelter tent (24 x 30) for large events. Located about 6 miles from the AuSable River (blue ribbon trout stream), where you can catch trout for days. Manistee River is only about 9 miles away, Grayling is only 6 miles away, Roscommon is 9 miles away, or take a little adventure and head just 15 miles to visit the North end of Houghton Lake. The heating system is 96% high efficiency and is NEW in 2022, and the well is approximately 10 years old. The Inn has great internet service, which is through Spectrum, speed test averages around 110. The property also includes a small piece of land directly across from S. Grayling Road. Occupancy rate was 60% for the 1st quarter of 2023, with an income of $20,584.59.
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0BEDS
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3.48ACRES
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0BATHS
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01/2 BATHS
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3,700SQFT
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$119$/SQFT
Description
Are you ready for a business opportunity of a lifetime!!?? Would you like to own an amazing established Inn with 2040 sq ft that makes up the 8 guest rooms, as well as 1660 sq foot of living quarters for the owners to call home right onsite. The living quarters and all rooms will come fully furnished. Guest rooms including beds, furniture, linens, coffee pot, TV, refrigerator (3ft in all rooms) and microwave. 9 Oaks Inn already has dedicated cliental, and the business has an impressive cap rate of almost 9% in 2022, and the cap rate for 2023 is estimated to be over 17%. This breathtaking country setting with almost 3.5 acres of quiet and private open space, ready and waiting for you to take over. This beautiful property has the potential for you to expand, and the best feature of this investment opportunity is that you and the guests get to enjoy being outside of the city, but close enough to head to town for shopping and restaurants, or if water is your oasis, head just 4 short miles to Higgins Lake!! Guests currently enjoy the cleanliness of the rooms, along with the inviting and peaceful surroundings. The backyard is breathtaking and has so much space for groups to enjoy family events. Guests can walk the property, relax, or enjoy playing in the open space. Enjoy the firepit, Summer kitchen, and wedding/shelter tent (24 x 30) for large events. Located about 6 miles from the AuSable River (blue ribbon trout stream), where you can catch trout for days. Manistee River is only about 9 miles away, Grayling is only 6 miles away, Roscommon is 9 miles away, or take a little adventure and head just 15 miles to visit the North end of Houghton Lake. The heating system is 96% high efficiency and is NEW in 2022, and the well is approximately 10 years old. The Inn has great internet service, which is through Spectrum, speed test averages around 110. The property also includes a small piece of land directly across from S. Grayling Road. Occupancy rate was 60% for the 1st quarter of 2023, with an income of $20,584.59.
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IDX provided courtesy of Realcomp II Ltd., via Red Fox Realty Llc: (810) 630-6652 and Realcomp, ©2023 Realcomp II Ltd. Shareholders.