461 Munson Avenue Traverse City, MI 49686

Multi-Family (2-4 Units) MLS #: 1929909 Courtesy Of Real Estate One, Inc.
521 Randolph Street, Traverse City, MI 49684

$8,500,000

32,711 sq ft
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Estimated monthly payments: $37,157/mo.* (recalculate)

Property InformationDescription

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!

Features

  • Amenities: Dock, Disabled Access
  • Architecture Style: Other
  • Heating System: Forced Air
  • Lot Size: 1.87 Acres
  • Roof Type: Asphalt
  • Rooms: Basement

MAP & DIRECTIONS

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461 Munson Avenue, Traverse City, MI 49686
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School Information

461 Munson Avenue, Traverse City, MI 49686

Elementary School
Grades PK-5 | Public School
EASTERN ELEMENTARY SCHOOL
Traverse City, MI 49686
1600 Eastern Ave
231.­933.5603
Distance: 0.7 mi
School Rating
C-
Student:Teacher Ratio
16:1
Total Students
391
Middle School
Grades 6-8 | Public School
TRAVERSE CITY EAST MIDDLE SCHOOL
Traverse City, MI 49696
1776 3 Mile Rd N
231.­933.7304
Distance: 3.6 mi
School Rating
B-
Student:Teacher Ratio
23:1
Total Students
847
High School
Grades 9-12 | Public School
CENTRAL HIGH SCHOOL
Traverse City, MI 49686
1150 Milliken Dr
231.­933.6500
Distance: 0.8 mi
School Rating
A
Student:Teacher Ratio
24:1
Total Students
1461
Other Nearby Schools Distance Type Grades School Rating
Tba Independent School District Oak Park Special Education 0.8 mi Public PK-12
Tba Career Tech Center 1.2 mi Public 11-12
Life Skills Center 1.2 mi Public 9-12
Traverse Heights Elementary School 1.2 mi Public PK-5 D+
Tba Independent School District Traverse Heights 1.2 mi Public PK-12
Traverse Bay Mennonite School 1.3 mi Private 1-12
Traverse City High School 1.5 mi Public 9-12 D-
Central Grade Elementary School 2.3 mi Public PK-5 B
Tcaps Montessori School 2.3 mi Public PK-7 A+
Trinity Lutheran School 2.6 mi Private PK-8
Grand Traverse Academy 3.2 mi Public PK-12 A-
New Campus Center 3.3 mi Public KG-12
Willow Hill Elementary School 3.3 mi Public PK-5 B+
The Greenspire School 3.4 mi Public 6-12 B-
Cherry Knoll Elementary School 3.4 mi Public PK-5 C
St Elizabeth Ann Seton Middle School 3.5 mi Private 6-8
Traverse City Christian School 3.7 mi Private PK-12
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

Demographic Data

Traverse City, MI 49686

Median Age: 46.9
Married: 44%
Number of Households: 10,586
Households with Children: 18.5%
  • Occupancy Types
    • 0 Vacant
    • 0 Owned
    • 0 Rented
  • Transportation to Work
    • 0 Drive
    • 0 Public Transportation
    • 0 Walk / Bike / Other
    • 0 Work at Home
Copyright © 2025 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for 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.