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    TBB M 72

    Williamsburg, MI 49690
    • $4,600,000
    • STATUS: Active
    • ON SITE: 608 days
    • MLS #: 1858700
    UPDATED: 76 min ago
    $4,600,000
    • 0
      BEDS
    • 18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    2019
    County:

    School Ratings & Info

    Description

    Looking for a development? Want to take advantage of the short-term rental market around Traverse City? Meet KOTI. KOTI is a proposed Site Condominium and Vacation Rental Resort. Acme Township has approved this 18-acre PUD development for residential and commercial use. Contractor bids have been collected and engineering, construction drawings and permitting are well underway with groundbreaking scheduled for later in 2019. The owner planned to develop a resort of 76-95 free-standing site condos to be rented on a short-term basis. One would have the option to own and operate the entire resort or sell the site condos to individual owners to be used as income-producing properties. As a one-owner resort, financial projections indicate a 33% return at 50% occupancy. If the buyer decides to build the condos and sell them to individual owners/investors, the property management company alone has annual projected net income between $300-500K (assuming 40%-50% occupancy). Located on a beautiful park like property with meandering Acme Creek cascading along the south lot lines, the development includes two proposed mixed-use commercial neighborhoods that will feature small shops and restaurants that support not only the resort, but also the local community. Situated just 1/4 mile from the east arm of Grand Traverse Bay, guests will enjoy these fully furnished, turn key, luxury homes. They will love a relaxing day at the pool and sauna, or make use of the direct access to the Tart Trail, Casino, top quality golf courses, restaurants, and shopping. Just minutes from the popular Horses By The Bay Equestrian Center. Notes: The photos are architectural renderings. Detailed plans and projections are available upon request.

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    The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2020 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2020-11-30T23:51:54.547.
    www.c21northland.com/homes/93294950
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    TBB M 72 Williamsburg, MI 49690

    • Price: $4,600,000
    • Status: Active
    • Updated: 76 min ago
    • MLS #: 1858700
    0
    Beds
    0
    Baths
    0
    ½ Baths
    18
    Acres
    2019
    Built
    Neighborhood:
    Koti
    County:
    Grand Traverse
    Area:
    Grand Traverse
    Property Description
    Looking for a development? Want to take advantage of the short-term rental market around Traverse City? Meet KOTI. KOTI is a proposed Site Condominium and Vacation Rental Resort. Acme Township has approved this 18-acre PUD development for residential and commercial use. Contractor bids have been collected and engineering, construction drawings and permitting are well underway with groundbreaking scheduled for later in 2019. The owner planned to develop a resort of 76-95 free-standing site condos to be rented on a short-term basis. One would have the option to own and operate the entire resort or sell the site condos to individual owners to be used as income-producing properties. As a one-owner resort, financial projections indicate a 33% return at 50% occupancy. If the buyer decides to build the condos and sell them to individual owners/investors, the property management company alone has annual projected net income between $300-500K (assuming 40%-50% occupancy). Located on a beautiful park like property with meandering Acme Creek cascading along the south lot lines, the development includes two proposed mixed-use commercial neighborhoods that will feature small shops and restaurants that support not only the resort, but also the local community. Situated just 1/4 mile from the east arm of Grand Traverse Bay, guests will enjoy these fully furnished, turn key, luxury homes. They will love a relaxing day at the pool and sauna, or make use of the direct access to the Tart Trail, Casino, top quality golf courses, restaurants, and shopping. Just minutes from the popular Horses By The Bay Equestrian Center. Notes: The photos are architectural renderings. Detailed plans and projections are available upon request.
    Exterior Features

    Construction FrameTo Be Built Exterior Features Wood Foundation Other Lot Dimensions irregular Parking Paved Road Private OwnedPrivately Maintained Roof Metal

    Interior Features

    Heating Cooling Type Central Air

    Property Features

    Business Incl No Business Name Koti Deeded Waterfront No Documents On File Other Eco Features No Extras None Heating Cooling Source Natural Gas Included In Lease None Inventory Incl No Licenses None Listing Agreement Type Exclusive Right To Sell Location Freestanding Possession At Closing Present Use Other Sale Or Lease For Sale Sale Rent For Sale Section Number 2 Sewer Municipal Terms CashCommercial LoanConventional Mortgage Township Acme Type Retail/Commercial Type Of Ownership Corporate Owned Univs Design Barrier Free None Vacant Land No Water Municipal Water Zoning CommercialResidentialRetail



    The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2020 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2020-11-30T23:51:54.547.
     
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    CENTURY 21 Northland
    241 E State Street
    Traverse City MI, 49684