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37985 Kings Hwy

Beaver Island, MI 49782 MLS #:453416

EMERALD ISLE HOTEL

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Popular Hotel in the heart of the town of St. James. Located at the corner of King’s Highway and Donegal Bay Road, just 500 ft. inland from Beaver Harbor.

This 10,000 sq. ft. facility has eight two-bedroom apartments with full baths and kitchens PLUS a second wing that has eight spacious motel rooms with kitchenettes. 16 rental units with a total of 24 bedrooms.

This two-story building is a short walk from the Island’s ferry dock and one-half block to one block from three restaurants, gift shops, public beach, playground, churches, community center, museum, bars and three other motels and much more. The bike path going west on Donegal Bay Road starts right across the street from this Inn. By bicycle guests can easily get to 90% of the businesses and facilities on the north end of the Island.

The building has a large meeting room in the basement and a sitting area with fireplace on the second floor between the two parts of the building. There are 3 first floor entries – off Donegal Bay Road, Kings Highway and the western courtyard. This building also has a laundry area, equipment and supply rooms etc. in the basement.

The replacement cost of this facility is well over one million dollars. Adding to that the land value of the three lots, the storage building west of the hotel, the personal property inside the rental units and its value as a going business, it would cost someone $1,500,000 to set up this business today. It was initially offered for sale at $1,500,000.

It is now a bargain – for everything – at the asking price of only

$790,000

Prospective Purchasers must be pre-qualified prior to any disclosures.