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$ 12,900,000
Est. payment | /mo
1,780 SqFt
$ 12,900,000
Est. payment | /mo
1,780 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 1,780 sqft
Price per Sqft $7,247
Subdivision Mi
MLS Listing ID 80064319
Year Built 2023
Annual Tax Amount $126,930
Lot Size 18.160 Acres
Acres 18.16
Lot Dimensions IRREG
Property Sub-Type Commercial/Industrial
Property Description
A rare resort and multifamily investment opportunity has arrived in one of Michigan’s premier vacation destinations. Introducing KOTI, the Finnish word for “home.†This Scandinavian-inspired resort spans just over 18 thoughtfully designed acres only a quarter mile from the East Arm of sparkling Grand Traverse Bay and minutes from downtown Traverse City. KOTI's location and aesthetic make it ideal for quiet retreats, family vacations, reunions, and corporate stays. The community is planned for up to 78 standalone cottages featuring the signature warmth, simplicity, and beauty of Scandinavian design, offered in both two- and three-bedroom bungalow layouts. Seventeen cottages are already complete and leasing, generating roughly $750,000 in annual rental income. The property also includes a fully renovated and fully leased restaurant with a resort liquor license and Class CSDM license, a 13,000-square-foot event center, a 4,500-square-foot commercial kitchen, and an 1,100-square-foot visitor center with offices and retail space. A pedestrian bridge over a clear trout stream leads directly to the TART Trail and the resort’s walkways, enhancing the guest experience. The site is pre-approved for an expanded mixed-use complex with up to 120,000 square feet available for hotel, condo, office, and rental development. All infrastructure, including roads, utilities, and walkways, is already in place, positioning KOTI for seamless future growth. Surrounded by top regional attractions including the Grand Traverse Resort, Turtle Creek Hotel & Casino, Flintfields Horse Park, and several premier golf courses, KOTI is uniquely situated to become one of Michigan’s most distinctive vacation communities. This is a rare chance to invest in a destination where Scandinavian-inspired design meets the best of northern Michigan’s natural beauty.
Location
State MI
County Grand Traverse
Area Acme Twp (28001)
Zoning Commercial,Other
Interior
Heating Forced Air
Cooling Central A/C
Exterior
Parking Features Parking Lot
Roof Type Metal,Other-See Remarks
Building
Foundation Slab
Water Public Water
Structure Type Frame,Wood
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Commercial Loan
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by REMAX Bayshore - W Bay Shore Dr TC