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 property and building size could allow for added amenities too. This is an exciting property - bring your creativity!
Price $8,500,000
Heat:
Zoning: Commercial
Area: Grand Traverse
Water:
Construction: Frame
Sale or Rent: For Sale
Approx.Sq Ft.: 32711
Lot Size: Irregular
Sewer: Municipal
Units: 63
Acres: 1.87
Features: Handicap Access/Equipment Fenced Yard,Patio,Handicap Access,Gutters Water Features: None
