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2 From time to time, comm #3 For Sale. Mackinaw City motel with 26 rooms, operates seasonable May until October each year. Asking price is $975,000. What must the annual income be to achieve a cap rate of 8%. Assume 40% total for fix and variable expenses. DBAN BURG City ng the Indoor and -October High revenue. In - Asking $975,000 (231) 941-1777