1755 N Manitou Trail

Estimated Monthly Payment: $15,961/mo 1755 N Manitou Trail, Leland, MI 49654 MLS# 1873985 Hospitality Listing Status: Active
10,527 sqft
73
57
0
8

REMARKS:

Situated on nearly five acres and boasting over 200 ft of private across-the-road frontage on North Lake Leelanau, the Whaleback Inn is one of the most iconic properties in Leelanau County. This property has not been on the public market for over 28 years. Five buildings make up over 10,000 square feet of guest area and innkeeper's quarters; most accommodations overlook North Lake Leelanau and are considered by many to be some of the best views available. There are 18 rental units total consisting of 10QQ, 3K, 1Q, 3 Cottage Suites w/kitchenette and 1 large Cottage w/full kitchen. The main house/office/innkeepers quarters is 1906 with original wood floors, stained glass windows and hand hewn stone fireplaces with the largest most iconic wrap around porch in the area. All units have been meticulously maintained over the years. With too many improvements to list in this description, all have been documented and are available for review in the Documents section of this listing. Many repeat guests have called Whaleback Inn their favorite vacation destination, with its close proximity to the town of Leland (1 mile) that offers dining, beaches and wineries, combined with on-site water views, water access, a gift shop, paddlesports rentals and more. Most recent ownership has raised revenue by 12% while improving the property in many ways, decreasing the length of open season, and streamlining processes to make the hotel a truly turn-key operation. A great deal of passion is invested in its future success and owners are willing to train the right buyers. Current owners along with increasing revenue have transitioned operation from year round to a 7 month-on, 5 month-off business model (open mid April through mid November). Could be converted back to year round if a new owner desired. June 2020 beat June 2019 revenue despite Covid challenges, due to being drivable and a naturally distanced Midwest lodging option. Owner is a licensed Realtor in state of Michigan.

OVERVIEW:

Hospitality
Active
Leland
Frame
Partial, Poured Concrete, Slab, Stone
1906
10527
Asphalt, Membrane, Tar/Gravel
Baseboard, Forced Air, Hot Water, Other
Electric, Mutiple Units, Natural Gas, Wood
North Lake Leelanau
216
Private Well
Private Septic
4.90
200x739x216x825
Additional Buildings, Furniture/Fixtures, Phone System, Sprinkler System

FEATURES:

Rough-Sawn, Shingle, Stone, Wood
Yes

FINANCIAL:

$3,500,000

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Key Realty One-TC - 231-492-0373 

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © 2020 Northern Great Lakes REALTORS® MLS . All Rights Reserved.