$630,000
$650,000
3.1%For more information regarding the value of a property, please contact us for a free consultation.
5 Acres Lot
SOLD DATE : 04/19/2024
Key Details
Sold Price $630,000
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
Municipality Somerset Twp
MLS Listing ID 24007084
Sold Date 04/19/24
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1950
Annual Tax Amount $2,595
Tax Year 2023
Lot Size 5.000 Acres
Acres 5.0
Lot Dimensions 400x762
Property Description
Located in the heart of the lake country, Somerset Motel continues to be a staple in the community for over 37 years serving everyday travelers, Michigan Speedway guests, Faster Horses fans, golf outing group, wedding parties, and family reunions. Offered for sale is the 1900 sq. ft. home with 14 rental units and a community room, all on five acres. The sprawling ranch home features a business office, 3 bedrooms, 3 bathrooms, living room, kitchen, dining room, walk-up attic, and full walkout basement with commercial laundry. The home offers garage space for 3 vehicles. The N units and community room (bonus income) total 2130 sq. ft. and the W units total 2450 sq. ft. All units on the property are furnished and have refrigerator, microwave, heat, A/C, cable TV, ...(more remarks)... ...(more remarks)... Wi-Fi, and phones. On 5 acres, huge yards offer firepit and room tents, pavilion, and outdoor games. Opportunity exists to be an onsite owner or make the home 1 or 2 additional units. Do not trespass, disturb owners, or disturb tenants. Cash, Commercial Loans, 1031 Exchanges. 15% CAP RATE. No Land Contract sales. Qualified Purchasers should contact a Commercial Realtor with your questions or schedule a private tour.
Location
State MI
County Hillsdale
Area Hillsdale County - X
Direction US12 (Chicago Rd) WEST of US127
Rooms
Basement Crawl Space, Slab, Walk Out, Full
Interior
Heating Wall Furnace, Forced Air, Baseboard, Natural Gas
Cooling Window Unit(s), Central Air
Fireplaces Number 3
Laundry In Basement
Exterior
Parking Features Asphalt, Driveway, Paved
Utilities Available None Available, Phone Connected, Natural Gas Connected, Electric Connected, Cable Connected
View Y/N No
Roof Type Other,Composition
Street Surface Paved
Handicap Access Ramped Entrance
Total Parking Spaces 40
Building
Lot Description Level
Sewer Septic System
Structure Type Aluminum Siding
New Construction No
Schools
School District Addison
Others
Tax ID 04-011-400-003-11-5-1
Acceptable Financing Cash, Conventional, Tax Def Exchange
Listing Terms Cash, Conventional, Tax Def Exchange
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