For Sale: Bayfield MLS# 6500644
Active
$624,900
Commercial: Business Opportunity
Built 1903
0.33 acres
Bayfield schools
MLS# 6500644
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Property Description
Own a piece of Iconic Bayfield WI, Lucyâs Place is an established bed and breakfast, featuring 4 ensuites for rent, and a separate ownerâs wing. Each ensuite features a private bath with jetted tub. in Lake superiors views from the garden, or walk a few blocks and be immersed in the shops and water front of this picturesque tourism hot spot. The property includes several additions and updates, including solar panels, upgrades in energy efficiency , and mechanical updates. This property operates at an 11.5% cap rate, making it an excellent investment opportunity. At just under 3800 square feet, it would also make an amazing north shore vacation property, with room to spare for friends and family.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$624,900
Property Type:
Commercial
City:
Bayfield
Garage Spaces:
2
County:
Bayfield
Year Built:
1903
State:
WI
Property Style:
Business Opportunity
Zip Code:
54814
Interior
Ranges:
One
Refrigerators:
Six or More
Appliances Included:
- Dishwasher
- Disposal
- Dryer
- Exhaust Fan
- Freezer
- Gas Water Heater
- Microwave
- Range
- Refrigerator
- Washer
- Water Softener Owned
Basement Details:
- Block
- Concrete
- Finished
- Insulating Concrete Forms
- Owner Access
- Walkout
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
20x20
Garage Size:
400 ft2
Garage Door Height:
8
Garage Door Width:
16
Other Parking Spaces:
4
Air Conditioning:
Window Unit(s)
Foundation Size:
1,242 ft2
Foundation Dimensions:
23x54
Handicap Accessible:
Wheelchair Ramp(s)
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Attached Garage
- Concrete
- Gravel
- Tuckunder Garage
Shared Amenities:
Porch
Road Frontage:
- City Street
- County Road
Exterior Material:
Aluminum Siding
Roof Details:
Asphalt
Rooms
Shared Rooms:
Community Room
Lake & Waterfront
Waterfront Present:
N
Waterfront Name:
Lake Superior
Waterfront View:
Harbor, Lake
DNR Lake ID#:
600092091
Lake Chain Name:
N
Lake Acres:
20795117
Lake Depth:
0
Waterfront:
Lake View
Lot & Land
Acres:
0.33
Geolocation:
46.8091825233, -90.8218978811
Inclusions:
Building, Business Assets, Business, Fixture/Equipment, Inventory, Land, Rental License
Lot Dimensions:
119 x 120
Zoning:
- Business/Commercial
- Residential-Single Family
Lot Description:
- Tree Coverage - Medium
- Underground Utilities
Schools
School District:
315
District Phone:
715-779-3201
Expenses
Annual Electric Expense:
$750
Annual Fuel Expense:
$1,541
Annual Water/Sewer Expense:
$2,882
Tenant Expenses:
None
Financial & Taxes
Tax Year:
2022
Annual Taxes:
$4,255
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,255
Income
Annual Gross Income:
$75,000
Units
Total Units:
4
Miscellaneous
Current Use:
Bed & Breakfast
Fuel System:
- Electric
- Natural Gas
- Solar
Sewer System:
- City Sewer - In Street
- City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
- City Water - In Street
- City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Professionals.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.