Active

1180 North Shore Drive

Mears MI, 49436

$8,900,000


$141.27 per sqft

Active

63,000 sqft

Commercial

Built in 1993

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.

1914843

MLS ID

July 25, 2023

Listed

February 16, 2024

Updated

Map

1180 North Shore Drive
Mears MI, 49436

Interior Features

Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

2.29 Acres


Exterior Features

Vinyl


Roof

Asphalt


Sewer

Private Septic

School Information

School District

2%

Other Property Details

Area Name

Oceana


Days on Market

83


Garage

No


Parking

Common, Paved, Parking Lot


View

No


County

Oceana


Water Source

Private Well


Pool

No


Zoning

Commercial,Motel/Hotel


Buyer Agency Compensation

2%

Green Building Features

Green Features

Not Applicable

Listing History

Date

Event

Price

1/31/2024

Active

11/10/2023

Pending

10/9/2023

Under Contract

Listed by with Berkshire Hathaway Home Svcs
Listing Contact:  

The IDX display contains information sourced from the Northern Great Lakes REALTORS® MLS as of 2/16/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2024 Northern Great Lakes REALTORS® MLS all rights reserved.

Data last updated on 2/16/2024 at 2:18 AM UTC

 

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