Traverse City Bed &
230 Wellington, Traverse City, MI 49686
Bed & Breakfast - Traverse City, MI
Property size:
11,807 SFLot size:
0.51 AcresPrice / SF:
$358/SF- Added:
- Jun 20, 2023
- Days on Market:
- 1067
- Last Refresh:
- May 21 at 6:06 am
Property Features for 230 Wellington
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Residential,Special Use
- Bathrooms
- 15
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 11,807 SF
- Lot size
- 0.51 Acres
Utilities
- Heating system
- Forced Air, Hot Water (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1905
- Roof type
- Asphalt, Tile
- Architectural style
- Other
Listing agent Carole Higgins (231) 633-2577
Listing office Cygnus Real Estate 508 N. Saint Joseph, Suttons Bay, MI (231) 994-3225
Listing date Jun 20, 2023
MLS# 1912528
Listing URL
Copyright © 2026 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.
HighLights
- Turnkey 5‑star bed and breakfast business with a proven track record (Pro‑forma cap rate‑10.5%, ROI- 13.5% & cash‑on‑cash- 13.18%).
- Historic neo‑classic revival property meticulously restored (1999‑2003) to its original grandeur.
- Substantial size: 9 bedrooms, 15 bathrooms, and a carriage house with two 2‑bedroom apartments, totaling 15,918 square feet.
- Includes valuable assets: period antiques, furnishings, website, advertising materials, licenses, and intellectual property.
- Opportunity for expansion: Unutilized original stables can be converted to event space or additional units.
- Financing options available: Likely eligible for SBA 504 & SBA 7a loans, and commercial portfolio loans.
Overview
This stately neo-classic revival property, a piece of Traverse City's history, was once owned by the son of a lumber baron. After falling into disrepair, the current owners lovingly restored it to its original grandeur from 1999 to 2003. The property is offered as a turnkey bed and breakfast business, boasting 9 bedrooms and 15 bathrooms, plus a carriage house with two 2-bedroom apartments, each with a kitchen and washer/dryer. The original stables below are currently not utilized but could be converted to event space or more units. The total square footage of the house and carriage house, including the unfinished portion of the basement and the lower level of the carriage house, is 15,918 square feet. The sale includes numerous period antiques and furnishings, detailed in the FFE list, as well as the website, advertising materials, licenses, and intellectual property. Situated on a 0.51-acre lot, this property is located in Traverse City, MI. It may be financed with a combination of an SBA504 & SBA 7a if buyer income and credit qualifies. Commercial portfolio loans are an option as well. Note: Pro-forma cap rate-10.5%, ROI- 13.5% & cash-on-cash- 13.18% and still has substantial vacancy rate as new owners will need time to get it working like the well oiled machine it can be. Subsequent years after year one should improve.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Wellington Inn
Bed & Breakfast
Similar Places Nearby
- Wellington Inn — 230 Wellington St, Traverse City, MI 49686
- Northern Home & Cottage — 125 Park St #155, Traverse City, MI 49684
- Oviatt House Bed and Breakfast — 244 E Eighth St, Traverse City, MI 49684
- Two Lower Level Apartments near Boardman Lake — E Eighth St #544, Traverse City, MI 49686
- Terrace Beach Motel — 841 E Front St, Traverse City, MI 49686
Location Insight
- Map
- Local Demand
- City
- Traverse City
- County
- Grand Traverse
- State
- Michigan
- Longitude
- -85.613939
- Latitude
- 44.762
Nearby Similar for Sale
FAQs
What type of property is this?
Bed & breakfast - Legacy property with 9 bedrooms and carriage house apartments.
Where is this bed & breakfast located?
The property is located at 230 Wellington Traverse City, MI.
What is the asking price?
The asking price for this property is $4,230,000.
What are key features of this property?
This property features: Turnkey 5‑star bed and breakfast business with a proven track record (Pro‑forma cap rate‑10.5%, ROI- 13.5% & cash‑on‑cash- 13.18%).; Historic neo‑classic revival property meticulously restored (1999‑2003) to its original grandeur.; Substantial size: 9 bedrooms, 15 bathrooms, and a carriage house with two 2‑bedroom apartments, totaling 15,918 square feet.
