519 Lake Street Active Save Request In-Person Tour Request Virtual Tour
Frankfort,MI 49635
Key Details
Property Type Commercial
Sub Type Hospitality
Listing Status Active
Purchase Type For Sale
Square Footage 4,033 sqft
Price per Sqft $297
Subdivision Mi
MLS Listing ID 1937875
Year Built 1966
Lot Size 0.970 Acres
Acres 0.97
Lot Dimensions 208x142x297x142
Property Sub-Type Hospitality
Property Description
Discover a rare chance to own a family-run motel and home just steps from downtown Frankfort and the Lake Michigan shoreline. This well-established business has been lovingly maintained by the original owners and boasts a loyal client base of repeat guests who return year after year. The picturesque grounds feature a charming creek, gazebo, and picnic area—perfect for relaxation and outdoor gatherings. Directly across the street lies the scenic Betsie Bay and the Betsie Valley Bike Trail, offering easy access to both Frankfort and Elberta's shops, restaurants, theater, library, public boat launch and the stunning beaches of Lake Michigan. The motel includes 9 guest rooms including 4 rooms with two full beds, 2 rooms with three full beds and 3 rooms with queen beds. There is also potential to create additional guest accommodations or reconfigure the layout to fit a new vision. The owner's home doubles as the check-in area and includes a comfortable single-family residence with a studio apartment on the second level, ideal for guest lodging or long-term rental income. Recent upgrades provide peace of mind include new heating/cooling units, beds, carpeting, and updated bathrooms in every room. A new roof, sealed driveway, underground electric, and new gas lines for the motel. The home has new windows, roof and the start of renovations to finish off more living space. This property presents endless possibilities—expand the motel, transform it into a charming Bed & Breakfast, add an event venue, or create additional guest accommodations. Situated along the iconic M-22 Scenic Drive, this location is unbeatable—just minutes from Sleeping Bear Dunes National Lakeshore, Crystal Lake, world-class trout streams, and endless hiking and biking trails. Guests can enjoy the best of northern Michigan right outside their door. A rare turnkey opportunity to own a thriving hospitality business in one of Michigan's most beloved destinations.
Location
State MI
County Benzie
Zoning Residential,Commercial
Rooms
Basement Crawl Space,Block,Unfinished,Entrance Inside
Interior
Heating Heat Pump,Forced Air,Wall,Ductless A/C
Cooling Heat Pump,Forced Air,Wall,Ductless A/C
Exterior
Exterior Feature Vinyl,Aluminum,Brick
Roof Type Asphalt
Present Use Other
Road Frontage Public Maintained,Blacktop
Building
Sewer Municipal
Water Private Well
Others
Tax ID 05-001-461-00/5103002700
Ownership Private Owner
Acceptable Financing Conventional Mortgage,Commercial Loan,Cash
Listing Terms Conventional Mortgage,Commercial Loan,Cash