Exceptional chance to own the Waterway Inn, the best-rated lodging in Indian River and a successful, fully updated business in Northern Michigan’s Inland Waterway. Located on nearly 2 acres just 300 feet from I-75, this ready-to-run property has room for growth.
The Inn was originally bought as the Coach House Motel in 2019, and the owners have since spent over $400,000 on improvements. This has raised its Google rating to 4.6 stars and secured the #1 ranking on TripAdvisor for Indian River lodging. The Inn includes 11 renovated rooms, six income-generating mobile homes, and a spacious 3-bedroom, 1-bath owner’s suite. A laundry service for the public also adds extra income. Each room and mobile home has been updated with new beds, linens, Roku TVs, high-speed internet, and a modern booking system that connects to major platforms.
Centrally located, the Waterway Inn is the only lodging facility within walking distance of downtown Indian River, Burt Lake State Park, two boat launches, and the North Central State Trail. Its great spot near Exit 310 draws in many walk-in customers. The Inn enjoys repeat visitors and has exclusive deals with local golf courses, fishing charters, and adventure companies, often being fully booked during peak seasons and even during the off-season. With a strong 16% cap rate, this property provides excellent cash flow and investment potential. Indian River is a growing destination with over $6 million in recent commercial investment, limited commercial land, and easy access to Petoskey, Harbor Springs, Bay Harbor, and Mackinaw City.
This sale includes everything needed to run the business—real estate, equipment, furnishings, and detailed records—ready for new ownership.
Offered at $990K . Contact Ken Weaver for details
MICHIGAN CAMPGROUNDS and RESORTS 