Four-Season Resort with River
For Sale
$3,500,000
6841 BROWN BRIDGE RD, Traverse City, MI 49696
Four-season resort offering 15 motel units, restaurant with liquor license, campsites, and 1,300 feet of private Boardman River frontage.
Property Size10,404 SF
Lot Size40.00 Acres
Price / SF$336.41
Days on Market332
Property Features for 6841 BROWN BRIDGE RD
General Information
Standard status
Active
Size
10,404 SF
Lot size
40.00 Acres
Property subtype
Business Opportunities
Additional Details
Business Included
Yes
Liquor License
Yes
Amenities
underground heated swimming pool
stocked trout ponds
Boardman River frontage
canoe, kayak, and inner tube livery
full-service restaurant
meeting room
pavilion/game room
campsites
restroom/shower buildings
laundry room
3
Metal, Asphalt
13201320
Building Details
Year Built
1965
Listing Agency:
REMAX Bayshore - Union St TC
(231) 883-4921
Listed By:
Christina Ingersoll · License #6501279134
(231) 883-4921
Source:
Xome
Added: Sep 14, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Bayshore - Union St TC
Investment Insights
Based on property information with market context.
Ranch Rudolf is a four-season, 40-acre resort property in the Boardman Valley with on-site lodging, dining, and recreation. The resort features 15 motel units and a private house, along with a full-service restaurant with seating for 147 guests and a liquor license. Meeting and group facilities include a 55-person meeting room and a pavilion/game room that holds 113 people, plus 25 campsites with restroom and shower buildings. Outdoor and water recreation are supported by a canoe, kayak, and inner tube livery, and on-site conveniences include a laundry room, garage, and linen storage building. Guests also have access to an underground heated swimming pool and two stocked trout ponds.
The property is situated along the Boardman River with 1,300 feet of private frontage, surrounded by the Pere Marquette State Forest. Seasonal opportunities include canoe and tube rentals in the summer, and winter snowmobiling with direct access to 100 miles of groomed trails in Grand Traverse County, along with nearby cross-country skiing access. The property is reported as 16 miles from downtown Traverse City.
The property is situated along the Boardman River with 1,300 feet of private frontage, surrounded by the Pere Marquette State Forest. Seasonal opportunities include canoe and tube rentals in the summer, and winter snowmobiling with direct access to 100 miles of groomed trails in Grand Traverse County, along with nearby cross-country skiing access. The property is reported as 16 miles from downtown Traverse City.
Key Highlights
- 40‑acre four‑season resort in Traverse City, Michigan on the banks of the Boardman River.
- 1,300 feet of private Boardman River frontage plus canoe, kayak, and inner tube livery.
- 15 motel units plus a private house for on‑site lodging.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$139,068
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,781,360
$2.8M
Cap Rate 7%
$1,986,686
$2.0M
Cap Rate 9%
$1,545,200
$1.5M
Market Conditions
NOI Build-Up for 10,404 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$197.3K $18.96/SF
− Vacancy
−$11.8K −$1.14/SF
EGI
$185.4K $17.82/SF
− OpEx
−$46.4K −$4.46/SF
NOI
$139.1K $13.37/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,781,360
Cap Rate 7%
$1,986,686
Cap Rate 9%
$1,545,200
Alternative Uses
Best Use
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,068 @ 7.0% cap · market cap 3.97%
Second Best
Hotel Hospitality
$1.12M
$978.5K – $1.30M
NOI $78,280 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,207 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 49696, MI
9,528
Population
5,005
Households
1.9
Avg Household Size
43
Median Age
41%
College-Educated
96%
High-School Grad
68.7 sq mi
ZIP Area
139
Density / Sq Mi
$96,138
Median Household Income
$46,893
Median Earnings
$1,309
Median Rent
$289,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Four-season resort offering 15 motel units, restaurant with liquor license, campsites, and 1,300 feet of private Boardman River frontage.
Where is this resort located?
The property is located at 6841 BROWN BRIDGE RD Traverse City, MI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 40‑acre four‑season resort in Traverse City, Michigan on the banks of the Boardman River.; 1,300 feet of private Boardman River frontage plus canoe, kayak, and inner tube livery.; 15 motel units plus a private house for on‑site lodging.
