160 E Cloverland Dr
Ironwood, MI 49938

Cushman & Wakefield has been exclusively retained to solicit offers to purchase the fee simple interest in the Rodeway Inn (“Property”), a limited-service, 42-room hotel located in Ironwood on the western edge of Michigan’s Upper Peninsula. The property is owned by the original developer and has been well maintained with a new roof, bathroom floor tile, lobby floor tile, lobby “atrium”, carpet, TV’s, and WiFi equipment as of 2017. The hotel is absentee owned and a minimal transfer of ownership PIP is anticipated. An investor, looking to act as an owner-operator, can improve operations and reduce expenses thus boosting net income. Sharing the same parking lot with Rodeway Inn and included with the property is a single-tenant leased, 8,357 SF Family Dollar store that generates $36,000 in revenue annually. The building is leased through 2019 with options to extend through the end of 2029. The Family Dollar store has retained the same tenant since it was built in 1994. Conveniently located off the newly rebuilt U.S. Highway 2, the primary traffic route in Ironwood, the hotel is located in a prime leisure and destination market with direct access to multiple recreational areas, state parks, national forests, and several ski areas. The property is located only 15 miles from Lake Superior, 1 mile from Gogebic Community College, 3.5 miles from Aspirus Grand View Hospital, and 6.8 miles from Big Powderhorn Mountain Resort ski area. Rodeway Inn Ironwood provides an excellent opportunity to acquire a well-maintained, absentee owned hotel in a prime vacation and recreational area in the Upper Peninsula of Michigan.