FOR SALE - 124 S SHORE DRIVE SUTTONS BAY, MI 49682
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124 S SHORE DRIVE
SUTTONS BAY, MI 49682
"COTTAGES ON SUTTONS BAY"
FOR SALE
4 WATERFRONT PROPERTIES
Dan Stiebel, CCIM
Cell: (231) 633-0432
Office: (231) 929-2300
dan@realestatetc.com
522 E Front St | Traverse City, MI | 49686
www.realestateTC.com
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
PROPERTY DETAILS PROPERTY INFORMATION
This is your perfect opportunity to purchase prime waterfront MANITOU
income property on Leelanau Peninsula. • 2,431 SF
• 4 Bedrooms + Den/Office setup as 5th bedroom
• Downtown Suttons Bay, Hop Lot Beer Garden & Hansen's Grocery
• 3 Bathrooms
Store within 2 Blocks • Deck
• Newly renovated main home with upgrades to cabins • 2nd floor balcony
• Sitting Room
• 25' of direct frontage on Suttons Bay o 2nd floor w/ Bay Views
• Abuts 300' of sandy public beach at South Shore Park • Hot Tub
• Breathtaking unobstructed bay views & sunsets • 2 Car Garage
• Washer/Dryer in closet
• 5 short term rentals or live in the main house • Forced Air Furnace
PROPERTY SPECIFICATIONS
• Mother-in-law/Studio Apartment
o 1 bath
Property Type: Income/Residential o Above garage
o Wall Furnace Heat
Zoning: NVR - Newer Village Residential
o Separate Entrance
Opportunities: Income Properties/Residential Home o Can access from inside home
Parking: Private Parking
Built/Remodeled: Various/1986 / 2020
BAYVIEW CABIN - Closest to Water
Exterior: Vinyl/Wood/Log
Roof: Asphalt • 1 Bed / 1 Bath
o Attached bunk-bed room
Foundation: Slab • View of Suttons Bay
Construction: Frame/Timber Frame • Wall Furnace Heat
• Mini Split A/C
Water/Sewer: Municipal
Utilities: Electric, Natural Gas
CEDARWOOD CABIN - Middle Cabin
Heating/Cooling: Central Air/Ductless AC/Forced Air/Wall
• 1 Bed / 1 Bath
Road: Public Maintained Blacktop
• Rustic Kitchen
School District: Suttons Bay Public Schools • Mini Split Heating/Cooling
Acres: 0.75 Acres
CUMBERLAND CABIN - First Cabin
Frontage: 25' of Private Frontage on Suttons Bay
• 1 Bed / 1 Bath
TAX INFORMATION • Wall Furnace/Window AC
• Log Sided
Tax ID: 043-220-004-00
*Current property owner has a short-term rental permit
2020 SEV: $190,480
from Village of Suttons Bay. New owner would need to
2020 Taxable Value: $188,768 reapply for permit after sale if continuing rentals.
True Cash Value: $380,960
*For 2020 Rental History, please fill out Confidentiality
LOCATION INFORMATION Agreement at the end of the marketing package.
Township: Village of Suttons Bay
County: Leelanau
Directions: Follow M-22/S W Bay Shore Dr north to Suttons Bay. Turn
ASKING PRICE: $ 995,000
right on S Shore Drive after 4th Street. Main house is at
the end of S Shore Drive. Also accessible from M-22.
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
SALE & PROPERTY INFORMATION
SALE OF 124 S. SHORE RD -- COTTAGES ON SUTTONS BAY
1. TURNKEY – ITEMS INCLUDED – EVERYTHING NECESSARY TO DO
SHORT TERM VACATION RENTALS INCLUDING IF DESIRED THE LARGE
HOUSE
• established, professional website, www.cottagesonsuttonsbay.com
• custom professionally-designed logo (we provide Mawby's wine we use label on
those bottles), etc.
• two sets of linens and significant quantities of extra linens and associated items.
• complete inventory of operating supplies.
• books and records.
• customer/guest lists. Approximately 30% of our guests have stayed with us
before.
• written guest policies, guest books.
• guest rental agreements.
• off-season rental agreements.
• all furniture, furnishings, art, decor, etc.
• all personality for operations in all cottages including dishware, cookware, etc.
• all appliances.
• list of all vendors, contractors, and cleaning contractors.
• NOTE: EVERY UNIT RENTS YEAR-AROUND, lower off-season rates for
long-term tenants apply.
2. WHAT YOU ARE BUYING – TURNKEY BUSINESS AND RESIDENCE
a. PROPERTY. 0.75-acre property with direct beautiful waterfront on Suttons
Bay; great sunrises and sunsets; 3-block walk to the Village of Suttons Bay; no
neighbor to the south we border the Village park. 5 rental units in four structures,
total living space approximately 4,450 SF are:
b. MANITOU. The main structure, a 4 BR 3 BA, 2,479 SF house, with Master en-
suite on main floor and many upgrades and features, including a spectacular lake-
facing deck and lake views from many rooms. The house can be rented
separately, or enjoy lakefront life by using Manitou as your personal residence
and underwrite a substantial percentage of your mortgage through rental of
remaining 4 units. NOTE: We successful rent Manitou off-season to longer-term
tenants, so you can live at Manitou in the summer and "snow-bird" for the winter!
c. BAYVIEW. Charming 1/2 BR, 1 BA 578 SF cottage, terrific deck facing the
lake, authentic ship-salvaged brass light fixtures, and charm, charm, charm.
d. CEDARWOOD. Cozy 1 BR 1 BA 374 SF cottage.
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
SALE & PROPERTY INFORMATION
e. CUMBERLAND. Cute 1 BR 1 BA 280 SF cottage.
f. APARTMENT. Separate, private entrance off own private drive/parking; 264 SF
efficiency with rustic interior.
3. IMPROVEMENTS SINCE PURCHASE (PARTIAL LISTING)
a. MANITOU HOUSE Complete top-to-bottom remodel in 2012 with many
upgrades since
i. A/C added entire upstairs 2017
ii. Upgraded electrical panel
iii. New lighting throughout house, nearly every room, hallway, etc
iv. New kitchen
1. Remodel to allow 180º view from kitchen
2. New range and dishwasher
3. New flooring 2016
4. New custom cabinets
5. New granite countertops
6. New LED and halogen lighting throughout
7. New exposed beam ceiling
8. Built-in refrigerator
v. Construction of entirely new upstairs full bath (shower)
1. Beautiful ceramic shower with raw stone flooring
2. Dramatic ceramic flooring
3. New Stand-alone twin sinks and vanities
vi. Construction of Dining Area with built-in cupboard, bench and lighted
cabinet; kitchen pass-through
vii. Living Room
1. new paint, decorating,
2. built-in drinks refrigerator
3. new flooring
viii. Master BR on lower-level appearance upgrades
ix. Remodel Master en-suite bath
x. New washer & dryer 2020
xi. Hot Tub Included! 2020
b. CUMBERLAND
i. New Bath 2019
ii. New hot water heater 2020
c. CEDARWOOD
i. New spray-on and rigid exterior insulation and siding 2017
ii. New Bath 2018
iii. New A/C 2016
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
SALE & PROPERTY INFORMATION
d. BAYVIEW
i. Awesome vaulted knotty pine ceiling
ii. Authentic solid brass ship lighting fixtures
iii. New wainscotting
iv. New refrigerator 2020
v. New granite countertop 2018
vi. New bathroom flooring
vii. New faucet
viii. New cabinetry 2018
ix. New sink, disposal 2018
x. New deck 2017
xi. New A/C 2016
e. APARTMENT Complete top-to-bottom remodel 2012.
i. Flooring
ii. Cabinetry
iii. New Appliances
iv. New A/C added 2016
f. MANITOU GARAGE
i. Garage furnace installed 2018
ii. Garage renewal/repair 2018
g. PROPERTY INFRASTRUCTURE
i. Underground Power upgrade to permit A/C all Cottages
ii. Improved underground water service
iii. Erosion prevention system 2020
DISCLAIMER – THIS INFORMATION IS TO THE BEST OF OUR KNOWLEDGE
AND IS DEEMED TO BE ACCURATE, HOWEVER SOME DATES ARE
APPROXIMATE AND A BUYER SHOULD FULLY EVALUATE AND INSPECT
THE PROPERTY TO THEIR OWN SATISFACTION.
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124 S SHORE DRIVE
SUTTONS BAY, MI 49682
"MAINTOU" PHOTOS - MAIN HOUSE
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
"BAYVIEW" PHOTOS - WATERFRONT CABIN
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
"CEDARWOOD" PHOTOS - MIDDLE CABIN
WWW.REALESTATETC.COM
124 S SHORE DRIVE
SUTTONS BAY, MI 49682
"CUMBERLAND" PHOTOS - FRONT CABIN
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124 S SHORE DRIVE
SUTTONS BAY, MI 49682
PARCEL DIMENSIONS
124 S SHORE DR
SUTTONS BAY, MI
*Parcel Dimensions are estimates
108'
25
.3
'
5'
3.
30
5'
9.
47
137'
WWW.REALESTATETC.COM124 S SHORE DRIVE
SUTTONS BAY, MI 49682
MAPS
SUTTONS BAY
SUBJECT
WWW.REALESTATETC.COM124 S SHORE DRIVE
SUTTONS BAY, MI 49682
CONTACT INFORMATION
Dan Stiebel, CCIM
Coldwell Banker Commercial Schmidt
522 E. Front Street
Traverse City, MI 49686
Cell: (231) 633-0432
Fax: (231) 929-2322
Office: (231) 929-2300
dan@realestateTC.com
Kayla Anderson, Assistant to Dan Stiebel
Coldwell Banker Commercial Schmidt
522 E. Front Street
Traverse City, MI 49686
Office: (231) 929-2300
Fax: (231) 929-2322
kayla@realestateTC.com
8
WWW.REALESTATETC.COMConfidentiality and Broker Disclosure Agreement
This CONFIDENTIALITY AND BROKER DISCLOSURE AGREEMENT (“Agreement”) is
made ______________, 2021 by and between Coldwell Banker Schmidt, Dan Stiebel its agent
(“Disclosing Party”) and ______________________________________ (“Recipient”) with
respect to certain property and business identified as 124 S Shore Drive, Suttons Bay, Michigan
49682 (the “Property”) currently owned by HOUSTON HOLDINGS III LLC (“Owner”).
Recipient has requested information from Disclosing Party in connection with a possible
commercial transaction or relationship between Recipient, its assignees or clients and the Owner
or Disclosing Party and certain of its sources, contacts, consultants, employees or customers. The
parties agree to enter into this confidential relationship with respect to the disclosure by
Disclosing Party to Recipient of certain commercial information. Owner has indicated that all
inquiries and communications with respect to the contemplated sale of such Property be directed
to Disclosing Party. By accepting this Agreement and the Evaluation Materials (as hereinafter
defined), Recipient hereby agrees as follows:
1. Confidentiality. All information of any kind regarding the Property which is provided to
Recipient will be held in the strictest confidence and used only in connection with the evaluation
and negotiation of a purchase agreement. To this end, Recipient agrees not to reveal or
otherwise disclose to any third-party information regarding the Property which is provided by
Disclosing Party, except to Related Parties (as hereinafter defined). The information subject to
this Agreement will include, without limitation, specific identity of the Property, leases,
operating history, financial information, and/or any other information that may in any manner be
considered valuable, proprietary, and/or confidential (collectively, the “Evaluation Materials”).
Evaluation Materials may be delivered to such persons or entities who because of their
involvement with the proposed transaction need to know such information for the purpose of
giving advice with respect to, or consummating, the proposed transaction (all of whom are
collectively referred to as "Related Parties"); provided, however, that any such Related Parties
shall be informed by Recipient of the confidential nature of such information and shall be
directed by Recipient to keep all such information in the strictest confidence and to use such
information only in connection with the terms of this Agreement. In any event, Recipient will be
responsible for such Related Parties complying with the confidentiality provisions hereof.
Recipient will not communicate with tenants of the Property without the prior written consent of
Owner or Owner's Representative.
Recipient agrees that Disclosing Party and Owner will have no adequate remedy if Recipient or
Related Parties violate any of the terms of this Agreement. In such an event, Disclosing Party and
Owner will have the right, in addition to any other legal or equitable right they may have, to seek
injunctive relief to restrain any breach or threatened breach by Recipient, or to seek specific
enforcement of such terms.
2. Agency Relationship and Brokerage Commissions. Owner has indicated that all inquiries and
communications with respect to the contemplated sale of the Property be directed to Disclosing
Party. All fees due Disclosing Party in connection with the sale of the Property shall be paid by
1Owner. Recipient is aware that Disclosing Party is working as a Designated Seller’s Agent for the
Owner. Recipient agrees to present all offers on the Property through Disclosing Party. Recipient
will be working with (check one):
____ Disclosing Party as an agent of the Seller and no other Brokers.
____ Recipient’s Buyer’s Agent, who agrees to all the terms of this agreement and whose name
and signature appear below. (If left blank and recipient chooses to work with a Buyer’s Agent, no
co-operative compensation will be offered to Buyer’s Agent or his/her Broker).
Recipient represents to Disclosing Party that it has not had any discussions regarding the Property
with any broker or agent other than Buyer’s Agent named below and Disclosing Party. Recipient
hereby agrees to indemnify and hold harmless Disclosing Party and Owner against any and all
costs, loss, liability or expense, including attorney's fees, arising from claims by any other broker
or other parties claiming to have had dealings with Recipient in connection with the sale of the
Property, excluding Disclosing Party.
3. No Representations. Disclosing Party makes no representations or warranties as to the
accuracy or completeness of the Evaluation Materials or that actual results will conform to any
projections contained therein. To the best of Disclosing Agent’s knowledge, the Evaluation
Materials are accurate, however, Disclosing Agent expressly disclaims any and all liability for
representations or warranties, express or implied, contained in the Evaluation Materials, or in any
other written, oral or other communications transmitted or made available to Recipient.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement through their duly
authorized officers or agents:
RECIPIENT: BUYER’S AGENT:
________________________________________ ____________________________________
Signature Signature
Name: ______________________________ Name: ______________________________
Title: _______________________________ Title: _______________________________
Company: ___________________________ Company: ___________________________
Street Address: _______________________ Street Address: _______________________
City/State/Zip: _______________________ City/State/Zip: _______________________
Phone:______________________________ Phone:______________________________
Fax or Email:_________________________ Fax or Email:_________________________
DISCLOSING PARTY
Coldwell Banker Schmidt ____________________________________
522 E Front Street Dan Stiebel, Associate Broker
Traverse City, MI 49686
Phone: 231-929-2300 Fax: 231-929-2322
Email: dan@realestatetc.com
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