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47 Room Motel-Lounge-Rest-Banquet Center Gross $1.7 Million

Bad Axe, MI (Huron County)

47 Room Motel-Lounge-Rest-Banquet Center Gross $1.7 Million
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Asking Price: $1,750,000

Cash Flow: N/A

Gross Revenue: N/A



Inventory: N/A

Established: N/A

47 Room Motel-Lounge-Rest-Banquet Center Gross $1.7 Million

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Business Description

Located on Van Dyke-M53, Bad Axe, MI (Huron County), 2 hours North of Detroit straight up Van Dyke. Rebuilt 18 years ago due to fire in 2001 buffet breakfast, lunch, dinner, seats 110 plus lounge and restaurant seats 125 and banquet facility seats up to 450, can divide to have many functions weddings, parties, fund raisers and high profile Detroit Entertainment 5 to 6 times a year, very busy. Staff willing to stay on to support new owners. Sellers wife passed away and he can't handle by himself at 75 years old.
Asking Price reduced to $1,750,000 with possible terms $750,000 down.
Owner will finance balance for 5 years with 6% interest.

Detailed Information

Bad Axe, MI
This facility is located in Bad Axe, Huron County, Michigan in the heart of the Thumb, 2 1/2 hours North of Detroit, 47 Rooms, Banquet Party Room accommodates up to 425. Has several future bookings. Daily buffet seats 150, Bar & Restaurant seats 120 plus Game Room. This Brick-Cinder Block 33,200 sq. ft. building consists of 47 single/double rooms all located on the ground floor in addition buffet room-restaurant-lounge and banquet center, very heavily booked year after year. Property consists of 11 plus acres with a very large lighted paved parking lot, in excellent condition and maintained and is in compliance with health and township authorities. Price reduced to $1,750,000 with possible terms $750,000 down with 6% interest, 5 year balloon. Appraised property value $1,360,000-$1,600,000 by Chemical Bank.
Reason for Selling:
Wife passed away after a long illness, husband retiring!
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Michael C. Kelly

Business Listed By:
Michael Kelly

Mike Kelly & Associates, Inc.

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