$875,000

4492 Co Road 489

Onaway MI, 49765

Description

Tremendous opportunity to own a beachfront resort on one of Northern Michigan's largest inland lakes. Schell's Resort has been owned and operated by Bob & Lynn Schell for 50 years and finally they are considering retirement. Bob & Lynn have established long term relationships with most of their tenants, some that have been coming to the resort for generations. Summer 2021 is already almost completely booked! Main home is 3br, 2ba and nearly 2,000 sq ft, comes with a detached heated 2 car garage with bathroom and a 32'x16' pole barn. The 7 adorable cottages (five 3br/1ba, two 2br/1ba) come fully furnished and are in good, clean condition. The resort has almost 600' of waterfront made up of beautiful sandy beach on 10,000+ acre Black Lake, several boat slips on the Rainy River and there's even a private boat launch. This is a fantastic opportunity to own and operate as a resort or for a developer to break up to sell the cottages individually which would be easy to do because most of the structures already sit on their own individually taxed parcel. Note: Purchaser must honor the 2021 rental commitments.

Details

MLS#1880031
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1984
Days On Site218

Features

SQ Feet7,500
Story(s)1
ZoningResidential
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Area Information
StateMI
CountyPresque Isle
CityOnaway
Zip Code49765
AreaPresque Isle
Listing VS Median (in 49765)
Price:
$875,000
low | high
Med:
$483,500
94.742857142857% of Average
SqFt:
7,500
low | high
Med:
3,750
100% of Average
$ / SqFt:
$117
low | high
Med:
$58
100% of Average
On Site:
218
low | high
Med:
575.500000
37.880104257168% of Average
Sourced by Back At You
Listing Updated: April 22, 2021 8:02:53 PM PDT
Stireman 875000 LogoMLS Number: 1880031
Listing Provided By:
Stireman 875000  of  Coldwell Banker Schmidt-402
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