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TBB M 72 Map / directions

Williamsburg, MI

49690 Market info

$5,200,000

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  • 18 Acres
  • MLS# 1858736
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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.

Property Information

Status
Active 
Address
TBB M 72 
City
Williamsburg 
Zip
49690 
Lot Description
Wooded 
Lot Dimensions:
Irregular 
Zoning
Commercial, Residential
Water
Municipal Water 
Listing Date
04/03/2019 
County
Grand Traverse 
Waterfront Desc
Other 

School Information

School District
Traverse City 

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Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

800-871-9992

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

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Listing Courtesy of Re/Max Bayshore
Office Address 12930 S West Bay Shore Dr

Real Estate One Family of Companies

TBB M 72 Williamsburg
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$5,200,000
For Sale • Acres: 18.0 • School District: Traverse City