461 Munson Avenue
Traverse City, MI 49686
$8,500,000
MLS #1917933
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!
Overview
Sale or Lease:
For Sale
Business Included:
No
Real Estate Included:
Yes
Square Footage:
32711 sqft
Acres:
1.87 acres
Township:
Traverse City
County:
Grand Traverse
Features
Business Type:
Other, None
Location:
Corner Lot, Freestanding
Included in Lease:
None
Zoning:
Commercial
Compensations
Sub Agency
2.00%
Buyer Agency
2.00%
Transaction Coordinator
0.00%
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.