Boardman Riverfront
New
For Sale
$2,950,000
6841 Brown Bridge Road, Traverse City, MI 49696
Commercial, Traverse City, MI
Property Size10,404 SF
Lot Size40.00 Acres
Price / SF$283.54
Days on Market2
Property Features for 6841 Brown Bridge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Restaurant/Food, Motel/Hotel
Parking features
Parking Lot
Exterior features
Wood
Lot features
Freestanding
Directions
Garfield Rd. to left on Hobbs Hwy. to slight right to Ranch Rudolf Rd. to left on Brown Bridge Rd. to left in to Ranch Rudolf.
Subdivision
Grand Traverse
Standard status
Active
Size
10,404 SF
Lot size
40.00 Acres
Taxes and HOA fees
Tax Description
SE 1/4 OF SE 1/4 EXC RD R/W SEC 7 T26N R9W
Legal Description
SE 1/4 OF SE 1/4 EXC RD R/W SEC 7 T26N R9W
Utilities
Water source
Private
Water front
1
Amenities
underground heated swimming pool
two stocked trout ponds
1,300 feet of private frontage on the Boardman River
Building Details
Building materials
Frame
Roof type
Metal, Asphalt
Listing Agency:
REMAX Bayshore - Union St TC · RE/MAX International
(231) 941-4500
Listed By:
Christina Ingersoll · License #6501279134
(231) 883-4921
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 24 at 2:06PM
MLS# 1950916
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.
Investment Insights
Based on property information with market context.
This 40-acre resort includes 15 motel units, a private house, and a full-service restaurant with seating for 147 and a liquor license. Event facilities include a 55-person meeting room and a pavilion/game room with capacity for 113. The property also has 25 campsites, restroom and shower buildings, a laundry room, garage, linen storage, and a 10,404-square-foot property. Recreation amenities include an underground heated swimming pool, two stocked trout ponds, and a canoe, kayak, and inner tube livery.
The resort has 1,300 feet of private frontage on the Boardman River. Summer activities include canoe and tube rentals; winter access connects to 100 miles of groomed trails in Grand Traverse County and other groomed trail systems. Muncie Lake Pathways, the VASA Trail, North Country Trail, and Sand Lakes Quiet Area are also nearby. The property is 16 miles from downtown Traverse City.
The resort has 1,300 feet of private frontage on the Boardman River. Summer activities include canoe and tube rentals; winter access connects to 100 miles of groomed trails in Grand Traverse County and other groomed trail systems. Muncie Lake Pathways, the VASA Trail, North Country Trail, and Sand Lakes Quiet Area are also nearby. The property is 16 miles from downtown Traverse City.
Key Highlights
- 40‑acre resort with 15 motel units and a private house
- Restaurant seats 147 and includes a liquor license
- 25 campsites with restroom and shower buildings
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
4.71%
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 4.71%
Second Best
Hotel Hospitality
$1.12M
$978.5K – $1.30M
NOI $78,280 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,207 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Resort - Lodging, dining, campsites, recreation facilities, and event space bring multiple operations together on one resort property.
Where is this resort located?
The property is located at 6841 Brown Bridge Road Traverse City, MI.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 40‑acre resort with 15 motel units and a private house; Restaurant seats 147 and includes a liquor license; 25 campsites with restroom and shower buildings
