Rare opportunity in downtown Traverse city, with commercial HR zoning, a large 63-70 unit building and a large property, bound by five city streets - a block from the public beach! This property was originally developed as a hotel (with 70 units), leased to a senior living operation for many years, and is now ready for a new owner to create apartments, condos, operate as a hotel or long term care facility, or to create something all their own. With a large commercial kitchen, huge dining room, many common lounges, on-site commercial laundry, fiber optic internet installed and ready, a lovely back patio, expansive grounds and nicely outfitted units, this property has many things going well! There is potential to easily add up to seven additional units within the current building, and the property and building size could allow for added amenities too. This is an exciting property - bring your creativity!
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
Eastern Elementary School
1600 Eastern Ave
Distance between this listing and this school0.73 miles
Public District Grades PK-5
3
/10
Traverse Heights Elementary School
933 Rose St
Distance between this listing and this school1.20 miles
Public District Grades PK-5
7
/10
Central Grade Elementary School
301 7th St
Distance between this listing and this school2.34 miles
Public District Grades PK-5
Nearby Schools
9
/10
Tcaps Montessori School
1009 S Oak St
Distance between this listing and this school2.34 miles
Public District Grades PK-7
6
/10
Traverse City East Middle School
1776 3 Mile Rd N
Distance between this listing and this school3.57 miles
Public District Grades 6-8
7
/10
Traverse City West Middle School
3950 Silver Lake Rd
Distance between this listing and this school3.81 miles
Public District Grades 6-8
Nearby Schools
8
/10
Central High School
1150 Milliken Dr
Distance between this listing and this school0.78 miles
Public District Grades 9-12
2
/10
Traverse City High School
3962 3 Mile Rd N
Distance between this listing and this school1.50 miles
Public District Grades 9-12
8
/10
Grand Traverse Academy
1245 Hammond Rd E
Distance between this listing and this school3.14 miles
The neighbors living near this home have an average income of $69,937. Most Traverse City, MI residents have annual incomes between $35k-100k. The majority of families are single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 461 Munson Ave
What is the listing price of this property?
The listing price of 461 Munson Ave property is $8,500,000.
What type of property is this?
The property 461 Munson Ave is a house located in Traverse City, Michigan, 49686.
Is this property for sale now?
Active Listing: 461 Munson Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $64,826 (source: MLS/based on county public records data).
What is the square footage of this property?
The property 461 Munson Ave is 32,711 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 461 Munson Ave is 1995.
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This home is located at 461 Munson Ave in Traverse City, MI and zip code 49686. This 32,711 square foot home, which was built in 1995, sits on a 1.87 acre lot. It has been listed on Rocket Homes since September 02, 2024 and is currently priced at $8,500,000.
Over 8 listings were sold over their listed price in November 2024 in Traverse City, MI. In the same period over 54 listings were sold below the listed price and 20 listings were sold for the listed price. The number of listings in Traverse City, MI decreased by 8.3% between October 2024 and November 2024. In November 2024, listings were on the market for 84 days. During the same period, the median list price in this real estate market was $450,000.
From Rocket Homes Real Estate and based on county public records data.
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