6100 M 68
IndianRiver, MI 49749
- – beds
- – baths
- – sqft
- ~2 acre lot
- 1993 build
- – on site
Exceptional opportunity to own the Waterway Innâ€"Indian River’s top-rated lodging facility and a thriving, fully renovated four-season business in the heart of Northern Michigan’s Inland Waterway. Sitting on nearly 2 acres of commercial-zoned land just 300 feet off I-75, this turnkey property offers significant growth potential with room for expansion. Originally purchased as the Coach House Motel in 2019, the owners have invested over $400,000 in improvements, elevating the property’s reputation to a 4.6-star Google rating and earning the #1 spot on TripAdvisor for lodging in Indian River. The Inn features 11 fully updated rooms, six income-producing mobile homes, and a spacious 3-bedroom, 1-bath owner’s quarters. A profitable public drop-off laundry service adds an additional revenue stream. Every room and mobile home has been renovated with new beds, linens, Roku TVs, high-speed internet, and a modern reservation system that seamlessly connects to major booking platforms. Centrally located, the Waterway Inn is the only lodging facility within walking distance to downtown Indian River, Burt Lake State Park, two boat launches, and direct access to the North Central State Trail. Its prime location off Exit 310 also captures a steady flow of walk-in traffic. The Inn benefits from repeat business, exclusive partnerships with local golf courses, fishing charters, and outdoor adventure companies, and is frequently at full capacity during peak seasons and even throughout the off-season. With a strong 16% cap rate, this property offers excellent cash flow and investment potential. Indian River is a rapidly growing destination with over $6 million in recent commercial investment, limited commercial-zoned land, and easy access to Petoskey, Harbor Springs, Bay Harbor, and Mackinaw City. Offered turn-key, this sale includes the real estate, business, equipment, furnishings, and detailed operational recordsâ€"ready for new ownership
Last checked:
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Last updated Apr 21, 2025
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MLS# 78080055114 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1993
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Construction Materials:WoodSiding
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Levels:Two
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Basement:false
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Foundation Details:Slab
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Patio And Porch Features:Deck
Interior
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Fireplace Features:Gas
The Property
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Parcel Number:16102440057802
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Lot Size Acres:2.0
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Lot Size Dimensions:Irregular
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Zoning Description:Commercial
Listing Agent
- Contact info:
- Agent phone:
- (231) 947-7777
- Office phone:
- (231) 947-7777
Taxes
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Tax Legal Description:COM AT SE COR SEC 24, T35N R3W; TH N 89D 57M W ALG S LI OF SEC 635.65 FT TO WLY R/W LI OF CONSUMERS
Heating & Cooling
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Heating:Electric, ForcedAir, NaturalGas
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Heating:true
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Cooling:false
Utilities
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Sewer:PublicSewer
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Water Source:SharedWell
Appliances
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Appliances:Other
Schools
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High School District:InlandLakes
The Community
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Subdivision Name:WATERWAY INN
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Waterfront:false
Parking
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Parking Features:Detached, Garage
IDX provided courtesy of Realcomp II Ltd., via Estately and Aspire North REALTORS, © 2025 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2025 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/27/25
Mar 27, 2025
|
Listed / Active | REALCOMP | $990,000 |
