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$3,995,000
Est. payment /mo
11,807 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 11,807 sqft
Price per Sqft $338
Subdivision Oak Park
MLS Listing ID 78080007999
Year Built 1905
Lot Size 0.510 Acres
Acres 0.51
Property Description
A Once-in-a-Generation Opportunity to Own a Traverse City Landmark. Few properties hold such a prominent place in a community's history. Fewer still have been lovingly restored with the care, investment, and attention to detail found here. This magnificent Neo-Classical Revival estate is one of Traverse City's most recognizable historic properties. Originally built for the son of a prominent lumber baron, the property was painstakingly restored to its original grandeur by the current owners. Today, the property operates as a well-known inn featuring 9 guest rooms and 15 bathrooms. The carriage house includes two separate 2-bedroom apartments, each with a kitchen and in-unit washer and dryer. Below the carriage house, the original stables remain largely unused, creating opportunities for event space, additional guest suites, or other creative uses. Including the unfinished basement and lower level of the carriage house, the property encompasses an impressive 15,918 square feet. The sale includes an extensive collection of period antiques and furnishings, along with the website, marketing materials, licenses, and associated intellectual property. A detailed FF&E inventory will be provided during due diligence. The estate itself is conservatively assessed at approximately $3.2 million, making this a rare opportunity to acquire a landmark property, a recognized hospitality business, and an extraordinary collection of antiques and furnishings in a single offering. Words and photographs cannot capture the craftsmanship, architectural details, and sense of place found throughout the estate. Plan to spend at least an hour touring the propertyâ€"you'll want the time to appreciate everything it has to offer. Please do not approach staff or guests. All inquiries should be directed to the listing broker.
Location
State MI
County Grand Traverse
Area Area28042Traversecity
Interior
Heating Forced Air, Hot Water, Natural Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features ParkingLot, Other
Utilities Available NaturalGasConnected
View Y/N No
Roof Type Asphalt, Tile
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Traverse City
Others
Acceptable Financing Cash, Other, Trade1031Exchange
Listing Terms Cash, Other, Trade1031Exchange
Special Listing Condition Standard
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Listed by Carole L Higgins of Cygnus Real Estate
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