461 Munson Ave Traverse City, MI 49686

This exceptional 32,711 square foot hospitality property, located at 461 Munson Ave in Traverse City, Michigan (APN 51-754-003-00), presents a rare investment opportunity. Boasting 70 keys across two, two-story buildings on a 1.87-acre lot, this property offers significant upside. Originally developed as a hotel and later used as senior living, it's now zoned for commercial HR use, allowing for a diverse range of redevelopment options. Imagine transforming this established property into apartments, condominiums, or a completely unique concept. The existing infrastructure includes a large commercial kitchen, a spacious dining room, numerous common lounges, and on-site commercial laundry facilities. A lovely back patio and expansive grounds add to the property's appeal. The 1995-built property underwent renovations in 2013. The substantial size of the buildings and lot allows for the potential addition of up to six more units, along with further amenity enhancements. This prime location, just a block from the public beach in downtown Traverse City, Michigan (zip code 49686), ensures high visibility and accessibility. The asking price is $8,900,000, translating to $275.14 per square foot. This is a truly unique opportunity to acquire a substantial property with immense potential in a desirable location.