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$14,900,000
Est. payment /mo
1,780 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,780 sqft
Price per Sqft $8,370
Subdivision Koti Vacation Rentals
MLS Listing ID 78080052043
Year Built 2023
Lot Size 18.160 Acres
Acres 18.16
Property Description
Presenting KOTI, the Finnish word for "home", a rare investment opportunity in one of Michigan’s premier vacation destinations. This Scandinavian-inspired resort spans approximately 18 acres of pristine Northern Michigan landscape, situated just a  ¼ mile from the East Arm of Grand Traverse Bay and within minutes to downtown Traverse City. KOTI’s unique design and location make it the ideal spot for everything from quiet getaways to family vacations, reunions, and more. The planned community includes up to 76 stand-alone cottages, each featuring the signature elements of Scandinavian design: warm functionality, simplicity, and beauty. With both 2- and 3-bedroom options, the cabins are designed to blend comfort with style, creating an inviting atmosphere for all guests. To date, 21 cottages have been completed and are currently being leased, generating close to $700,000 in rental income annually. Also included is a fully renovated restaurant with liquor license and a Class C SDM, allowing for the sale of packaged wine and beer, as well as a 13,000 sq ft event center, a 4,500 sq ft commercial kitchen, and a 1,000 sq ft visitor center/store with an office. Additionally, this property is pre-approved for an expanded mixed-use complex with up to 120,000 sq ft for hotel, condo, office, and retail spaces. With roads, utilities, walkways, and bridges already in place, KOTI is ready for the next stage of development. Located near premier attractions like Grand Traverse Resort & Spa, Turtle Creek Hotel & Casino, and Flint Fields, KOTI is uniquely positioned to become one of Michigan’s most distinctive vacation rental resort communities. Capture this once-in-a-lifetime chance to invest in a truly exceptional destination that showcases the best of Scandinavian-inspired design, Northern Michigan hospitality, and breathtaking natural surroundings.
Location
State MI
County Grandtraverse
Area Area28021Acmetwp
Interior
Heating ForcedAir, NaturalGas
Cooling CentralAir
Exterior
Parking Features ParkingLot
Utilities Available NaturalGasConnected
View Y/N No
Roof Type Metal, Other
Building
Foundation Slab
Sewer PublicSewer
Water Public
New Construction No
Schools
High Schools Traversecity
School District Traversecity
Others
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Special Listing Condition Standard
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Listed by Robert Brick of REMAX Bayshore - W Bay Shore Dr TC
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