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Listed by Blake Bernard • REO-TCRandolph-233022
$8,500,000
Est. payment /mo
32,711 SqFt
UPDATED:
01/06/2025 03:53 PM
Key Details
Property Type Commercial
Sub Type Hospitality
Listing Status Active
Purchase Type For Sale
Square Footage 32,711 sqft
Price per Sqft $259
Subdivision Mi
MLS Listing ID 1929908
Year Built 1995
Lot Size 1.870 Acres
Acres 1.87
Lot Dimensions Irregular
Property Description
Rare opportunity in downtown Traverse city, with commercial HR zoning, a large 63 unit building and a large property - a block from the public beach! This property was originally developed as a hotel (with 70 units), operated as senior living for many years, and is now ready for a new owner to create apartments, condos, operate as a hotel or long term care facility, or to create something all their own. With a large commercial kitchen, huge dining room, many common lounges, on-site commercial laundry, fiber optic internet installed and ready, a lovely back patio, expansive grounds and nicely outfitted units, this property has many things going well! There is potential to easily add up to seven additional units within the current building, and the property and building size could allow for added amenities too. This is an exciting property - bring your creativity!
Location
State MI
County Grand Traverse
Zoning Commercial
Rooms
Basement Poured Concrete
Interior
Heating Forced Air, Wall, Ductless A/C
Cooling Forced Air, Wall, Ductless A/C
Exterior
Exterior Feature Vinyl
Roof Type Asphalt
Present Use Other,None
Road Frontage Public Maintained
Total Parking Spaces 70
Building
Sewer Municipal
Water Municipal Water
Others
Tax ID 51-754-003-00
Ownership Private Owner
Acceptable Financing Commercial Loan, Cash, 1031 Exchange
Listing Terms Commercial Loan, Cash, 1031 Exchange
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