MLS Public Remarks 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 10% cap rate at ask price. The property has been very well maintained including a new roof and siding. 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 not to call the hotel directly. Financial and additional documentation is available upon request.
http://janhays.maxbroock.com/1914843
Township Golden Twp
Directions The Dunes Waterfront Resort in Mears Michigan
Fin Below Grd SqFt 0
Total Fin SqFt 63,000
Price/SqFt $141
Current Use Recreational/Resort
Unfinished SqFt 0
Above Grade Finished SqFt 0
CDOM 180
Sub Property Type Hospitality
Year Built 1993
Days on Market 180
Land Assessment -
Improvements -
Acreage 2.29
Taxes -
Tax Year -
Summer Taxes -
Winter Taxes -
Lower Level Square Footage 0
Waterview Y
Waterfront Y
For Lease/Rent N
Est. Total Acres 2.29
Lot Dimensions 180X400X300X750X150
WaterFrontage
180
Heating Electric, Forced Air
Cooling Electric, Forced Air
Water Private Well
Zoning Commercial, Motel/Hotel
Body of Water Silver Lake
Heating Electric, Forced Air
Garage 0.0
Basement details Partial, Slab, Walkout
Sewer Private Septic
Features Additional Buildings, Elevator, Furniture/Fixtures, Phone System, Security System, Sprinkler System
Parking Desc Common, Parking Lot, Paved
Exterior Features Vinyl
Terms/Misc. 1031 Exchange, Cash, Conventional, Other
Possession At Closing,Nego
Status Change Date 02/03/2024
Listing Date 07/25/2023
Internet/IDX Y
Licensee Interest None
Listing Office
Berkshire Hathaway Home Svcs
Office Address
203 Bridge Street
Listing Number
1914843
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