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Traverse Victorian Inn 461 Munson Ave

63 Room Hotel Traverse City, MI 49686 $8,490,000 ($134,762/Room)

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Investment Highlights

Bound by five city streets - a block from the public beach!
Ready for a new owner to create apartments, condos, operate as a hotel or long term care facility.

Property was originally developed as a hotel (with 70 units), leased to a senior living operation for many years.

Executive Summary

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!

The Traverse Victorian Hotel _ Offering Memorandum

Property Facts

Price	$8,490,000	Construction Status	Converted
Price Per Room	$134,762	Building Size	32,711 SF
Sale Type	Investment	No. Rooms	63
Sale Conditions	High Vacancy Property Redevelopment Project	No. Stories	2
Property Type	Hospitality	Year Built/Renovated	1995/2013
Property Subtype	Hotel	Parking Ratio	2.13/1,000 SF
Building Class	B	Corridor	Interior
Lot Size	1.90 AC

Price	$8,490,000
Price Per Room	$134,762
Sale Type	Investment
Sale Conditions	High Vacancy Property Redevelopment Project
Property Type	Hospitality
Property Subtype	Hotel
Building Class	B
Lot Size	1.90 AC
Construction Status	Converted
Building Size	32,711 SF
No. Rooms	63
No. Stories	2
Year Built/Renovated	1995/2013
Parking Ratio	2.13/1,000 SF
Corridor	Interior