214 Main Street $1,100,000

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    214 Main Street Lake City, MI 49651

    • 6,554 sq. ft.
    • 0.50 Acres
    • Commercial
    • MLS# 80050056
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    Views: 13 Days On Site: 68

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    Property Details

    Discover the perfect investment opportunity with the Lake View Motel & Gift Shop, family owned and operated for 40 years and situated on the picturesque shores of Lake Missaukee. The only resort remaining on Lake Missaukee, along with the only gas on the lake with easy access via the fuel dock. This property offers 178.5 feet of prime lakefront, complete with a paved boat ramp and gas pump, making it an ideal spot for water enthusiasts and vacationers alike. The property offers 11 immaculate units, each beautifully maintained and thoughtfully decorated, offering guests a comfortable and stylish stay with breathtaking lake views. The charming gift shop is perfect for showcasing local crafts, souvenirs, and essentials. This well-positioned shop complements the motel, creating additional revenue streams and enhancing guest experience. The owner/managerâ‚„¢s apartment is a two bedroom, two bath comfortable residence, providing convenience and privacy while overseeing the operations. Lake View Motel sits immediately adjacent Miltner Park and Public Beach with 100â‚„¢s of feet of beautiful sandy beach. Additional recreational amenities offered directly across the street include Veterans Memorial Park, the public library, tennis, pickleball and basketball courts. This is a unique opportunity to own a well-positioned motel that offers both a serene lakeside setting and proximity to community facilities. Enjoy the lifestyle of lakefront living while managing a profitable business with three revenue streams generated by the motel, gift shop and boat fueling station. Perfect for investors, those looking to expand their real estate portfolio or those simply looking for a lifestyle change. ** The two story motel with seven units was built in 2011; four units attached to the main building were built in 2009; the owners/manager's living area was built in 1987 and the store was updated in appx 2014. All in excellent condition and perfectly maintained.

    • General Features
      • Acreage 0.5
      • Area Municipality Lake Twp (57009)
      • Body of Water Lake Missaukee
      • County Missaukee
      • Originating MLS Northeastern Michigan Board of REALTORS
      • Ownership Corporation
      • Subdivision None
      • Total SqFt Finished 6554
      • Year Built 1965
      • ZONING Commercial
    • Building Features
      • Exterior Construction Frame, Vinyl Siding
      • Foundation Type Basement, Crawl, Slab
      • Heating System Forced Air
      • FUEL TYPE Electric,Natural Gas
      • Roofing Asphalt
    • Property Features
      • Water Public Water
      • PARKING Parking Lot
      • Lot Size 179x122x172x148
      • Sewer Septic Public Sanitary

    Neighborhood

    49651 (Lake City) Demographics

    46 Median Age
    34 Population Density (per sq. mile)
    30% College Educated
    $46,623 Estimated Median Income
    2,664 Estimated Total Home Owners
    671 Estimated Total Renters
    80% / 20% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    7,868 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $305,000 Median Sales Price
    26 Homes Sold
    22 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,100,000
        8/29/2024 12:38:00 PM New in Database Source: Multiple Listing Service New Value: $1,100,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.