1800 Ashmun Street, Sault St Marie, MI 49783
1800 Ashmun Street, Sault St Marie, MI 49783
1800 Ashmun Street, Sault St Marie, MI 49783
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Kyle O'Grady

Kyle O'Grady

+1(231) 499-9999
Listed by  Coldwell Banker Schmidt Traverse City
$995,000
Est. payment /mo
18 Baths
4,528 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Income

Listing Status Active

Purchase Type For Sale

Square Footage 4,528 sqft

Price per Sqft $219

MLS Listing ID 1947159

Year Built 1950

Lot Size 0.400 Acres

Acres 0.4

Property Sub-Type Income

Property Description

Terms Available*Turn-key, high-occupancy 18-unit + Owner's Quarters Motel investment in Sault Ste. Marie, MI delivering an exceptional 10.5% cap rate at 100% occupancy. This cash-flowing asset is ideal for an investor or owner-operator looking to capitalize on the Upper Peninsula's booming tourism, maritime commerce, university market-and what Perfect timing for a buyer with the New Lock at the Soo construction project slated to be ongoing until 2030. This ensures a sustained influx of contracted crews, corporate travelers, and industrial workforce housing demand directly to the immediate area.Outstanding 10.5% Cap Rate with proven year-round steady occupancy. Brand new roof installed in 2026 and new water heater-eliminating major near-term capital expenditures. Several guest units have been updated with new flooring and paint, to enhance procurement of the best lease rates. Electric baseboard heat paired with individual AC units in every room for optimized tenant comfort and energy efficiency. Customizable on-site manager/owner quarters are ready to be completed to your exact specifications. City approved floor plan included with sale, print available upon request. Owner's quarters projected rent is estimated to be $1000 to $1200 a month. Situated on a .40 acre corner lot along a high-visibility corridor just minutes from the historic Soo Locks, Kewadin Casino, and Lake Superior State University.Currently operating on month to month tenancy, but if you're thinking of converting this property back to nightly or weekly rentals for transient guests, this property location benefits from a steady stream of commercial travelers, seasonal tourists, and international cross-border traffic. Don't miss this rare, low-maintenance income producer fronting on the high visibility I-75 Business Loop with built-in equity growth potential. Financials available upon request.

Location

State MI

Interior

Heating Baseboard

Exterior

Waterfront Description Public

Roof Type Membrane

Garage false

Building

Foundation Block, Slab

Sewer Public Sewer

Water Public

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Kyle O'Grady

Kyle O'Grady

+1(231) 499-9999

Team Leader, REALTOR® License ID: 6501407456

Team Leader, REALTOR® License ID: 6501407456

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