Hotel property in Michigan
Search hotel property records in Michigan to find the property data you need. Reonomy provides the most comprehensive commercial real estate information available through the aggregation of commercial property records and data. Search through Michigan commercial property sales records, owner records and tax records. Signup for a free trial to uncover more information and search by filters including sales history, debt and owner.
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Popular searches around Michigan
Reonomy operates the most comprehensive database for Michigan Hotel Property and other commercial real estate assets across the U.S. Reonomy includes over 47 million commercial real estate properties, each property features sales, debt, tax and ownership data. Reonomy attracts a large community of Michigan commercial real estate professionals. Members from Michigan include brokers, investors and service providers, many of whom specialize in Michigan Hotel Property.
Michigan hotel property sold prices and values
The average assessed value of hotel properties in Michigan is $773,710. Hotel property sale prices in Michigan have a median of $364,750. The last 24 months of sales history has seen 20 sales, with 14 sales greater than $250,000, 2 sales valued at over $1,000,000, and 0 sales valued at over $10,000,000. The average price per square foot of hotel properties in Michigan over the last 24 months is $45.
|Values and sold prices (last 24 months)||United States||Michigan|
|Average sold price||$6,524,869||$654,975|
|Median sold price||$1,098,767||$364,750|
|Number of sales||8,661||20|
|Number of sales over $250k||6,577||14|
|Number of sales over $1m||4,495||2|
|Number of sales over $10m||892||--|
|Average total tax amount||$80,293||$36,728|
|Average assessed value||$3,324,124||$773,710|
|Average market value||$4,295,638||$1,543,340|
Michigan hotel property property averages
The average lot size of hotel properties in Michigan is 66,182 sf. This is 33% above the United States average. The average building area is 39 sf and the median year built is 1988.
|Property averages||United States||Michigan|
|Average lot size||600,555 sf||1,787,301 sf|
|Median lot size||47,270 sf||66,182 sf|
|Average building area||6,730 sf||192 sf|
|Median building area||74 sf||39 sf|
|Median year built||1978||1988|
|Average number of units||51||10|
|Median number of units||16||4|
Michigan hotel property total supply
There are 572 hotel properties in Michigan. This is 197% below the United States average. The total acerage is 16,453 acres and the aggregate building area for hotel properties in Michigan is 44,608 sf.
|Number of parcels||92,381||572|
|Aggregate lot acerage||1,159,686||16,453|
|Aggregate building area||274,897,203 sf||44,608 sf|
Michigan hotel property industrial mortgages
There are 716 mortgages for hotel properties across Michigan in the Reonomy database. The average value of those mortgages is $92,894,814. This is 65% above the United States average.
|Number of mortgages||216,476||716|
|Average value of mortgages||$46,836,937||$92,894,814|