Iconic Traverse City Property For Sale!
Hospitality
for Sale
| Catylist Listing ID: |
30811556 |
| Property Subtypes: |
Hotel, Inn, Motel, Vacation Rental(s)
|
| Number of Units: |
26 Units |
| Building Size (RSF): |
12,400 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.84 Acres
|
| Sale Price: |
$4,000,000 |
| Unit Price: |
$153,846.15 Per Unit |
| Property Use Type: |
Investment, Business |
| Building Name: |
Gold Coast Inn & Suites |
| Name of Establishment: |
Gold Coast Inn & Suites |
| Sale Terms: |
Cash to Seller, Other |
| Cap Rate: |
Undisclosed |
| Last Updated: |
2/28/2023 |
Overview / Comments
|
Completely unobstructed sunset views over East Grand Traverse Bay are enjoyed all year long at Gold Coast Inn! 26 cash-flowing units are for sale all together, each renting separately very well but with upside opportunity too! Each has it's own keypad for entry, and the building is keypad secure as well. Being just East of downtown Traverse City, this property rents really well. The entire property has just been remodeled, each unit is fully furnished and turnkey, and the common areas on each floor look terrific. There is a large dining room and commercial kitchen on the main floor, lovely lobby entry area, an elevator, and a back porch on the main floor and an expansive front porch overlooking the bay on each floor. The Traverse Area Recreation Trail (TART) is just out the back door to ride all over the area, into Traverse City, up to Acme, or over to Suttons Bay! This investment is fully optimized and ready for you - this one's tough to beat!
|
Additional Details
| Nearest MSA: |
Traverse City |
| County: |
Grand Traverse |
| Tax ID/APN: |
01-109-029-00 |
| Retail Clientele: |
General, Family, Business, Traveler, Tourist, Recreation, Convention |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
US-31 |
| Airports: |
Cherry Capital Airport (TVC) |
| Total Number of Buildings: |
1 |
| Number of Stories: |
3 |
| Property Condition: |
Excellent |
| Year Built: |
1994 |
| Year Renovated: |
2021 |
| Water Recreation: |
Other |
| Total Parking Spaces: |
35 |
| Parking Type: |
Surface |
| Passenger Elevators: |
1 |
| Laundry: |
Shared |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central, Wall Units |
| Air Conditioning: |
Other |
| Internet Access: |
Cable |
| Water Service: |
Well |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
977 |
11,435 |
30,221 |
| Median Age: |
45.1 |
43.09 |
41.84 |
| Households: |
455 |
4,999 |
13,198 |
|
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