MI > Other > Mears > 1180 N Shore Drive

For Sale Active

1180 N Shore Drive Map / directions

Mears, MI

49436 Market info

$8,900,000

Calculate Payment

  • MLS# 471772
  • Photos
  • Map
  • Satellite
Real Estate One - Petoskey and Charlevoix

Petoskey Office: 231-347-6200
Charlevoix Office: 231-547-5100
Customer Care: 248-304-6700

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls and texts at the number you provided, including marketing by voice, and email, from us and others about your inquiry and other home-related matters, but not as a condition of any purchase. You also agree to our Privacy Policy regarding the information relating to you. Msg/data rates may apply.
The Dunes Waterfront Resort is a 74 unit waterfront hotel on the sandy shores of Silver Lake and the world famous Silver Lake Sand Dunes which border Lake Michigan to the West. Best known for the ORV and ATV riding Silver Lake is one of Michigan's most popular summer destinations. The Hotel is being offered turn key with a seasonal staff in place which can be managed by a semi-passive investor or professional management co. Historically the property has been a 5 month per year operation and supports a 11%+ cap rate at ask price. The property has been very well maintained with a new roof and siding recently. Additional land with storage facilities is located just across the street and included in this offering. of the 74 spacious guest rooms/suites; 45 are facing the water with private balconies and dramatic views of Silver Lake and the sand dunes. The top floor has a large indoor swimming pool, conference rooms, prep kitchen, game room/arcade. Some of this space could be converted to luxury suites or food and beverage operation with the best views the property has to offer. Adjacent to the lobby and front desk operations is a manager's office & apartment. One of the only resort properties operating in the area and the highest standards of accommodations in all of Silver lake has resulted in a high rate of repeat business, steadily increasing ADR and subsequent high cash flow. Interested parties are asked not to communicate with on-site staff and are asking to contact the listing brokers or licensed real estate broker for assistance and showing opportunities. Financial and additional documentation is available upon request.

Property Information

Status
Active 
Address
1180 N Shore Drive 
City
Mears 
Zip
49436 
Year Built
County
Other 
Above Grade SqFt
63,000 
Waterfrontage
180.0 

School Information

School District
Other 

Features

Features
Air-Conditioning, Ample Parking, Cable TV, Common Area, Dryer, Exhaust Fan, Natural Gas, Off-Street Parking, Patio/Deck, Paved Roads, Range, Refrigerator, Refrigerator Fan, Washer 
Zoning
Resort 
Water
Township 
Sub Property Type
Commercial/Industrial 
Heating
Natural Gas 

Mortgage Calculator

years
annual
annual

Get Pre-Approved

  • Market Statistics
  • Property History
  • Local Business
Market Statistics
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
471772 Active Jul 27 2023 3:45PM $8,900,000 217
Local Business

Learn More About This Listing

Real Estate One - Petoskey and Charlevoix

Petoskey Office: 231-347-6200
Charlevoix Office: 231-547-5100
Customer Care: 248-304-6700

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls and texts at the number you provided, including marketing by voice, and email, from us and others about your inquiry and other home-related matters, but not as a condition of any purchase. You also agree to our Privacy Policy regarding the information relating to you. Msg/data rates may apply.

Listing Broker

MINMMLS Logo

Listing Courtesy of Berkshire Hathaway Homeservices Real Estate
Office Address 203 Bridge St.

1180 N Shore Drive Mears
Contact us
$8,900,000
For Sale • Acres: 3.0 • Zoning: Resort