Date of Defense
Thomas Carey, Management
Raymond Alie, Management
Gwendolyn Barnes, Management
The purpose of this study is to write a business plan for the development of office and apartment units in Suttons Bay, Michigan.
- The building is listed at $1.25 million but can be acquired for $800,000 or less.
- There is a shortage of retail space, office space, and apartments in the Village of Suttons Bay
- The current rental rate for retail and/or office space in Suttons Bay is between $8 and $12 per square foot.
- The current rental rates for apartments are as follows: 1 bedroom unit $375-450, 2 bedroom $425-575, and 3 bedroom $600-700.
- The plans to rehabilitate the building comply with all laws and regulations.
- A limited liability company is the best form of business for the owners.
- The project is financially feasible.
- Personal interviews had to be limited because the project is in a small town and word travels fast.
- Limited information on the basis of property taxes.
- The plans for the development project should be implemented.
- Grand opening promotion should be used to publicize the project.
- The owners should form a limited liability company.
- All laws and regulations applicable to the project should be followed.
- The owners should investigate the development of a hotel and/or restaurant on the site as the next stage of development.
Evatt, Michelle Charise, "Business Plan for the Development of Office and Apartment Units in Suttons Bay, Michigan" (2000). Honors Theses. 686.
Honors Thesis-Campus Only