Steady income with upside potential to add additional income. This can be achieved by renting the vacant supper club for daily event rentals, converting the smaller studio apartments into larger two bedroom rentals, and / or increasing the below market rent for the 5 larger units.

The vacant commercial space was a former supper club which has been closed for years. The Village of Francis Creek is welcoming to the idea of a restaurant or banquet type facility to open within that space. A liquor license is available and highly recommended by the Village of Francis Creek. Estimated hall rental in that area is $400 per day with an anticipated 8 days of rentals per month. This vacant space could also be turned into additional apartment rentals. We estimate that 4 units with 2 bedrooms each, or 5 units with single beds could reasonably be achievable.

The studios were originally hotel rooms and the owner had plans to consolidate the studios into 4 full size apartments which rent at $650 each for a monthly revenue increase of $7,200 per year.

The market value for the the 5 larger apartments is approximately $100 per month higher. A new owner could work to increase the rent at time of renewal or vacancy if any.

There are a total of 13 units. Please see the attached performa to see the rent roll and unit types. Most major maintenance items have been replaced in the last 10 years to include furnaces, siding, windows, water heaters, roofing and a 200 ft deep water well.