About This Home
This 24-bedroom, 24-bathroom single family at 1024 S.I-75 Business Loop in Grayling, MI is listed for $694,900 ($68 per sqft). Built in 1950, the home offers 10,261 sqft of living space on a 4.83 acres lot.
Key Features
- Built in 1950
- 4.83 acre lot
- 2 stories
Property Details
The possibilities are endless with this well-maintained gem. Located in Grayling, the gateway of the North. Minutes from Gaylord, MI, and an easy drive to Traverse City. Grayling, MI, is a small town that is experiencing some nice growth due to the Air Force Base, New Restaurants, New housing developments, etc.
It makes a great place to stay with its proximity to the tip of the Mitt, and both NE & NW Michigan. This 22-unit motel has been very well maintained throughout the years, with a steady stream of patrons. Owned and cared for for over 30 years, it's time to hand the investment over to a new owner.
Situated on 4 acres, on a main thoroughfare, with easy access to I-75, but set back enough for a peaceful setting. It features: a standalone building with 7 kitchenette units, that could be used for long-term rental, for a constant cash flow, plus an 1800 sq ft home connected to the main motel, that features: a large master suite, cathedral ceilings, and a large kitchen and living area.
Lots of parking, a large maintenance building that could be used for on-site laundry, and more. Priced accordingly for some of the decor that could use an update. All showings must present an approval letter or proof of funds.
Monthly Cost Estimate
$3,716/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1024 S.I-75 Business Loop
Grayling, MI 49738
Property Details
Flooring
Construction
Heating
Questions & Answers
This 24-bedroom, 24-bathroom single family at 1024 S.I-75 Business Loop is listed at $694,900 ($68/sqft). The estimated monthly payment is $3,717 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1950, 4.83 acre lot, 2 stories.
This property is listed by Tom Rumble.
Tom Rumble
Agent at eXp Realty