505 Second
Copper Harbor, MI 49918
MLS #1100685

Commercial
  • 13,663sq ft
$1,449,000
Est. P&I payment: $5534.2/mo
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Description for 505 Second, Copper Harbor, MI 49918
LAKE FANNY HOOE, COPPER HARBOR, MICHIGAN - Located where U.S. Highway 41 begins this resort and campground is a favorite destination location of many repeat customers who the owners appreciate as a great part of their success over the last many years. Now the time has come for the owners are looking for their successors as they plan to retire and relocate which means this is YOUR OPPORTUNITY to enjoy this business investment which has an 11% Cap Rate for 2015 and 2016 seasons which were only in operation for approximately 4 1/2 months each. The campground and resorts sits on approximately 532+/- feet of Lake Fanny Hooe frontage with sandy beach and approximate 11+/- acres with a Trout stream running through it. The location is great for campers and guests to easily access the well-traveled recreational trails that are becoming more popular each year, close proximity to the community attractions of the quaint town of Copper Harbor. This well maintained, turn-key, ALL season resort includes a 14 unit motel, 3 cabins, 1 apartment, 64 unit seasonal campground, gift shop/camp store, boat rentals, propane refill station, laundromat, clubhouse, sauna, garage, outbuildings, playground, docks, grills, picnic tables, fire pits, and a large 4 bedroom 2 bath home overlooking Lake Fanny Hooe. Resort located on the ATV trail and has direct access to snowmobile, hiking, biking, and cross country ski trails that have been nationally recognized. Great opportunity to live, work and play in this beautiful Keweenaw Peninsula location. The 4 bedroom home could serve as living quarters or another rental opportunity. Business has an established website to attract new customers, www.fannyhooe.com. WIFI is also available at the resort. The seller is willing to share the secrets of their success during a training period after closing. Want to improve on the Cap Rate? The seller can share ideas of areas that could do so, with the least amount of capital investment. The resort has operated year round in the past. Also listed as residential listing, MLS# 1100686. Prequalification/Letter of Reference and confidentiality agreement required prior to viewing property and providing financial information. Thank you for understanding that showings/tours are only available during the operating months from opening in May through closing in October.
MLS #1100685
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My Notes for MLS #1100685

General Features

  • Approx. Year Built: 1978
  • Number of Levels: 2
  • Total Number of Buildings: 13

Exterior Features

  • Exterior: Wood
  • Lot Dimensions: 532'+/- on Lk Fanny Hooe
  • Outbuildings: Shed,​Garage

Interior Features

  • Basement: Partial
  • Est.Total Building SQFT: 13,663

Utility Features

  • Air Conditioning: Wall Unit
  • Cable: Yes
  • Electric: Yes
  • Heat: Electric
  • Natural Gas: No
  • Sewer: Township
  • Supplemental Heat: Wood
  • Telephone: Yes
  • Water: Township

Financial Features

  • Association Fee: .
  • Financing Options: None
  • Price Per SQFT: 106.05
  • Rental Options: No Rental Available

Community Features

  • Body of Water: Lake Fanny Hooe/Garden Brook
  • Ski Resort Name: Near Mount Bohemia

Miscellaneous Features

  • Business Type: Resort and Campground
  • Construction: Conventional Frame
  • Foundation: Block,​Crawl Space,​Slab
  • Green Features: None
  • Road Access: Year Round
  • Shoreline: Sand
  • Water View: Lake
  • Waterfront: Lake
  • Wooded: Yes

Location

 
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Directions to 505 Second, Copper Harbor, MI 49918
US 41 N to Copper Harbor, R on Second St, Property on Both sides of Rd on Second St.
The listing information for 505 Second, Copper Harbor, MI 49918 was graciously provided by our friends at the listing brokerage, CENTURY 21 NORTH COUNTRY AGENCY-H

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P&I Payment $5534.2
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on Wild Rivers Realty & Associates, Inc's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. Wild Rivers Realty & Associates, Inc, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 12/18/2017 at 2:06pm
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