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461 Munson Avenue, Traverse City, MI 49686

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For Sale

$8,500,000

32,711 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $259.85
    Price per square foot

  • Basement
    Rooms

Explore this Property

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!
MLS# 1926705

Courtesy Of Real Estate One, Inc.
521 Randolph Street, Traverse City, MI 49684
(231) 946-4040

Property Features

  • Amenities
    Dock, Disabled Access
  • Architecture Style
    Other
  • Heating System
    Forced Air
  • Lot Size
    1.87 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement

Map and Directions

Directions to 461 Munson Avenue, Traverse City, MI 49686

Home seller CENTURY 21 Northland

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Northland

(231) 929-7900
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Monthly Payment Breakdown

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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