Soo Twp, MI 49783,327 W Portage
$2,325,000
$2,800,000
17.0%
Est.Price: ?

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13,000 SqFt

327 W Portage Soo Twp, MI 49783

Est. payment /mo
SOLD DATE : 02/03/2025

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Key Details

Sold Price $2,325,000

Property Type Commercial

Sub Type Business Opportunity

Listing Status Sold

Purchase Type For Sale

Square Footage 13,000 sqft

Price per Sqft $178

Subdivision The Lockview Motel

MLS Listing ID 78080014833

Year Built 1970

Lot Size 2.360 Acres

Property Sub-Type Business Opportunity

Property Description

The fully renovated eco-friendly Adoba Lockview Hotel & Cottages on 2.36 prime acres in historically acclaimed Sault Saint Marie is located just across the street from a national treasure, The Soo Locks. This commercial gem offers 16 premium rooms in the front hotel, and 31 more cottage stays. All rooms are complete with AC/and heat manual control, microwave and coffee bar set up. Guests enjoy gaslight district walkability to the best shopping, dining, concerts, festivities, & other best attended events in the area. Adoba Lockview provides 4 parcels with a back parcel .8 acre zoned 202 commercial vacant, with 3 access points to 2 main roads., for another robust development opportunity. Adoba proprietary brand, has become a signature eco-friendly brand providing custom manufactured Adoba beds, flooring, and paint that contain no environmental toxins. With tremendous annual ROI, this historical gem is a rare Upper Peninsula opportunity for the serious commercial investor. A skilled manager remains, with a superb returning summer staff each year. The Soo Locks services 7000-9000 freighters which carry 80 million tons, estimated $500 billion dollars of iron ore/steel to the US, bypassing St Mary’s river 21ft drop waterfall to gain passage to Lake Superior and Lake Michigan. Massive ships take 8-9 hours to pass through Sault Sant Marie's Locks. Tourists visit from all over the world to watch them make their passage. All US iron ore voyages through these Locks, estimated value around 10.5 billion Michigan and US dollars to build, making it a national sight to see. Multiple updates and improvements including a new brightly lit Adoba Lockview sign, easily seen by all. The property also provides a prime Portage Avenue storefront gift shop with heavy sidewalk foot traffic for added revenue. Mechanicals are in good operating condition. A laundry facility with industrial washer and dryers. This investment opportunity includes all furnishings. Schedule your apptment today.

Location

State MI

County Chippewa

Area Soo Twp

Zoning Commercial

Interior

Heating Forced Air

Exterior

Roof Type Asphalt

Building

Foundation Slab

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Frame,Vinyl

Schools

School District Sault Ste. Marie

Others

Acceptable Financing Cash, Other, Trade/Exchange

Listing Terms Cash, Other, Trade/Exchange

Special Listing Condition Unknown/Data Share Listings

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Realcomp MLS
Listed by Austen Lobenherz of Berkshire Hathaway Home Svcs
Bought with Berkshire Hathaway Home Svcs

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agent

Amy Greenwood

Agent | License ID: 6501404660

+1(248) 318-8542

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