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TBB M 72 - 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.

Listing information

  • MLS® ID: 1858700
  • Status: Active
  • New Construction: No
  • Lot Size: irregular
  • Style: Retail / Hospitality / Service
  • Stories: 0
  • Foreclosure: No
  • County: Grand Traverse
  • Year Built: 2019
  • Parking Type Description: Surface / Paved 0 cars
  • Lot Area: 18.00 Acres

Features

Business Incl No
CONSTRUCTION Frame, To Be Built
Deeded Waterfront No
DOCUMENTS ON FILE Other
ECO Features No
EXTERIOR FEATURES Wood
EXTRAS None
FOUNDATION Other
HEATING/COOLING SOURCE Natural Gas
HEATING/COOLING TYPE Central Air
Inventory Incl No
LICENSES None
LOCATION Freestanding
Other Business Name - Koti, Development Name - Koti
PARKING Paved
POSSESSION At Closing
PRESENT USE Other
ROAD Private Owned, Privately Maintained
ROOF Metal
SEWER Municipal
TERMS Cash, Commercial Loan, Conventional Mortgage
UNIVS DESIGN/BARRIER FREE None
Vacant Land No
WATER Municipal Water
ZONING Commercial, Residential, Retail
Listing Courtesy of Brick & Corbett of Re/Max Bayshore 12930 S West Bay Shore Dr Traverse City Mi 49684