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$ 8,500,000
Est. payment | /mo
1.87 Acres Lot
$ 8,500,000
Est. payment | /mo
1.87 Acres Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Traverse City
Subdivision Traverse City
MLS Listing ID 80053314
Originating Board MiRealSource
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 63-70 unit building and a large property, bound by five city streets - a block from the public beach! This property was originally developed as a hotel (with 70 units), leased to a senior living operation 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 pr
Location
State MI
County Grand Traverse County
Interior
Heating Forced Air
Exterior
View Y/N No
Others
Acceptable Financing Cash
Listing Terms Cash
Listed by MiRealSource Office