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Listed by REMAX Bayshore - West Shore Dr TC
$12,900,000
Est. payment /mo
1,780 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 1,780 sqft
Price per Sqft $7,247
MLS Listing ID 1941132
Year Built 2023
Lot Size 18.160 Acres
Acres 18.16
Property Sub-Type Mixed Use
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
Interior
Heating Forced Air, Natural Gas
Exterior
Waterfront Description Public
Roof Type Metal,Other
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Others
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456