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TBB M 72 Williamsburg, MI 49690

  • 18.00 Acres
  • Commercial
MLS# 1858702 | Active

$5,200,000

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Days On Market: 20 12 Views
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Property Details

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.

  • General Features
    • Licenses None
    • Included In Lease None
    • Business Incl No
    • Business Name KOTI
    • Type of Ownership Corporate Owned
    • Approx Year Built 2019
    • Type Mixed Use
    • Town T 27N
    • Township Acme
    • Present Use Other
  • Building Features
    • Extras None
    • Foundation Other
    • Heating Cooling Source Natural Gas
    • Roof Metal
    • Heating Cooling Type Central Air
    • Apx Total Fin SQFT 0
  • Property Features
    • Water Municipal Water
    • Vacant Land No
    • Univs Design/Barrier Free None
    • Sewer Municipal
    • Parking Paved
    • Exterior Features Wood
    • Construction To Be Built, Frame
    • Lot Dimensions irregular
    • Location Freestanding

Contact

Bob Brick

Owner/Broker

RE/MAX Bayshore

Cell: 231-342-3232

Neighborhood

49690 (Williamsburg) Demographics

48Median Age
90Population Density (per sq. mile)
50%College Educated
$66,195 Estimated Median Income
2,341Estimated Total Home Owners
462Estimated Total Renters
84% / 16%Estimated Owner / Renter Divide
2Estimated Average Household Size
6,931Total Population
Community data courtesy of LiveBy, Inc.

Market Last 30 Days

$229,900 Median Sales Price
13 Homes Sold
12 New On Market

Average Days on Market

    Properties for Sale

      Property History

      Date Event Price Percent Change
      -- Current Price Source New Value: $5,200,000
      4/5/2019 4:31:12 AM Status Changed Source New Value: Active
      4/2/2019 5:32:00 PM New in Database Source

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      The data relating to real estate for sale on this web site comes in part from the Internet Data exchange ("IDX") program of Northern Great Lakes REALTORS MLS. All information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.