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MLS# 1100685


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505 Second
Copper Harbor, MI 49918



Class: COMMERCIAL/INDUSTRIAL
Price: $1449000
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Type: Business Incl. Building
Buildings: 13
Levels: 2
Square Feet: 13663
Year Built:
Lot Size: 532'+/- on Lk Fanny Hooe
Business Type: Type
Remarks:
LAKE FANNY HOOE, COPPER HARBOR, MICHIGAN - Located where U.S. Highway 41 begins this resort and campground is a favorite destination location of many repeat customers who the owners appreciate as a great part of their success over the last many years. Now the time has come for the owners are looking for their successors as they plan to retire and relocate which means this is YOUR OPPORTUNITY to enjoy this business investment which has an 11% Cap Rate for 2015 and 2016 seasons which were only in operation for approximately 4 1/2 months each. The campground and resorts sits on approximately 532+/- feet of Lake Fanny Hooe frontage with sandy beach and approximate 11+/- acres with a Trout stream running through it. The location is great for campers and guests to easily access the well-traveled recreational trails that are becoming more popular each year, close proximity to the community attractions of the quaint town of Copper Harbor. This well maintained, turn-key, ALL season resort includes a 14 unit motel, 3 cabins, 1 apartment, 64 unit seasonal campground, gift shop/camp store, boat rentals, propane refill station, laundromat, clubhouse, sauna, garage, outbuildings, playground, docks, grills, picnic tables, fire pits, and a large 4 bedroom 2 bath home overlooking Lake Fanny Hooe. Resort located on the ATV trail and has direct access to snowmobile, hiking, biking, and cross country ski trails that have been nationally recognized. Great opportunity to live, work and play in this beautiful Keweenaw Peninsula location. The 4 bedroom home could serve as living quarters or another rental opportunity. Business has an established website to attract new customers, www.fannyhooe.com. WIFI is also available at the resort. The seller is willing to share the secrets of their success during a training period after closing. Want to improve on the Cap Rate? The seller can share ideas of areas that could do so, with the least amount of capital investment. The resort has operated year round in the past. Also listed as residential listing, MLS# 1100686. Prequalification/Letter of Reference and confidentiality agreement required prior to viewing property and providing financial information. Thank you for understanding that showings/tours are only available during the operating months from opening in May through closing in October.

Addendum:

This Listing Provided Courtesy Of:
Century 21 North Country Agency-h


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