461 Munson AveTraverse City, MI 49686

Property Details for 461 Munson Ave

Year built

1996

Lot size

1.87 AC

Property size (Sq ft)

31,960 SF

Property type

Commercial real estate

APN

51-754-003-00

APU

5175400300

Description

This exceptional 32,711 square foot hotel, built in 1995 and renovated in 2013, presents a rare investment opportunity in downtown Traverse City, Michigan. Located just one block from the beach at 461 Munson Ave, 49686, this two-story building sits on a 1.87-acre lot and boasts 70 guest rooms and 63 keys. The property features ample parking with 70 spaces and is zoned for commercial use (HR). Originally developed as a hotel, it later served as senior living and now awaits its next chapter. The property includes a large commercial kitchen, a spacious dining room, multiple common lounges, and an on-site commercial laundry facility. High-speed fiber optic internet is already installed. Outdoor amenities include a lovely patio and expansive grounds. The existing units are well-appointed, and there's potential to add up to seven more units within the current structure, along with additional amenities. This versatile property is ideal for conversion into apartments, condominiums, a long-term care facility, or continued operation as a hotel. Its prime location and extensive features make it an exceptional investment opportunity. The property is owned by Briar Hill Motel LLC.

• Alternative Use

  Use

  Valuation

  Residential

  $6,681,426

  Hospitality

  $6,120,150

  Educational

  $5,091,893

  Medical

  $5,267,011

  Retail

  $7,920,722

Location Insight

City

Traverse City

County

Grand Traverse

State

Michigan

Latitude

44.7591

Longitude

-85.5789

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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