314 Chippewa
Ontonagon, MI 49953
MLS #1102262

Commercial
  • 10,400sq ft
$210,000
Est. P&I payment: $802.06/mo
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Description for 314 Chippewa, Ontonagon, MI 49953
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 d├ęcor 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.
MLS #1102262
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My Notes for MLS #1102262

General Features

  • Approx. Year Built: 1956
  • Number of Levels: 2
  • Total Number of Buildings: 2

Exterior Features

  • Exterior: Brick,​Hardboard
  • Lot Dimensions: 50x100 & 50x100
  • Outbuildings: None

Interior Features

  • Basement: Partial
  • Est.Total Building SQFT: 10,400

Utility Features

  • Air Conditioning: Central
  • Cable: Yes
  • Electric: Yes
  • Heat: Natural Gas Hot Water
  • Natural Gas: Yes
  • Sewer: City
  • Supplemental Heat: None
  • Telephone: Yes
  • Water: City

Financial Features

  • Association Fee: None
  • Financing Options: None
  • Price Per SQFT: 20.19

Community Features

  • Body of Water: None
  • Ski Resort Name: None

Miscellaneous Features

  • Business Type: Motel/Apt/Hospitality lod
  • Construction: Conventional Frame
  • Foundation: Block,​Stone
  • Road Access: Year Round
  • Shoreline: Not Applicable
  • Water View: None
  • Waterfront: None
  • Wooded: None

Location

 
Street View Not Available
Directions to 314 Chippewa, Ontonagon, MI 49953
M 26 W/ M-38 to Ontonagon, Continue through downtown, (west on River St-Main St.), Right on Chippewa. Business on Left.
The listing information for 314 Chippewa, Ontonagon, MI 49953 was graciously provided by our friends at the listing brokerage, RE/MAX DOUGLASS R.E.-H

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P&I Payment $802.06
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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 10/21/2017 at 10:30am
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