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    1 Northern Michigan Traverse City, MI 49686

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    1 Northern Michigan Traverse City, MI 49686

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    • Hospitality properties
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    • Hospitality properties

    Property Details for 1 Northern Michigan

    Property type
    Hospitality properties
    Property subtype
    Hotels

    Description

    This exceptional Northern Michigan business opportunity encompasses a thriving 20-acre cabin resort and canoe livery situated along the renowned AuSable River near Traverse City, MI (zip code 49686). The property includes twelve rental cabins, a substantial owner's home exceeding 3000 square feet, and a well-equipped office/store/maintenance building for the livery operation. Over $550,000 worth of equipment is included in the sale. The resort also boasts two trout ponds and a sandy beach, enhancing its recreational appeal. Conveniently located near I-75, this seasonal business offers easy access to Northern Michigan's attractions and amenities. The property presents a unique blend of a profitable enterprise and a desirable lifestyle, with significant potential for expansion and the benefit of approximately six months of downtime annually. The asking price is $1,400,000. A non-disclosure agreement is required for complete location and detailed information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.5303
    Latitude
    44.8474

    Comparable in this City

    • Value Estimation by Request

      18599 Mission Rd

      Hotels
      18599 Mission Rd, Traverse City, MI 49686
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      12,762 SF

      230 Wellington St

      Hotels • 12,762 SF
      230 Wellington St, Traverse City, MI 49686
      View Details
    • Value Estimation by Request
      14,280 SF

      2211 Us Hwy 31st N

      HOTEL • 14,280 SF
      2211 Us Hwy 31st N, Traverse City, MI 49686-3753
      View Details
    • Value Estimation by Request
      13,302 SF

      2215 Us Hwy 31st N

      HOTEL • 13,302 SF
      2215 Us Hwy 31st N, Traverse City, MI 49686-3753
      View Details
    • Value Estimation by Request
      2.24 Acres

      2345 Us Hwy 31st N

      HOTEL • 2.24 Acres
      2345 Us Hwy 31st N, Traverse City, MI 49686-3755
      View Details
    • Value Estimation by Request
      123,544 SF

      615 Frnt St

      HOTEL • 123,544 SF
      615 Frnt St, Traverse City, MI 49686-2617
      View Details

    Similar Nearby for Sale

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      Historic Traverse City Inn

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      Grand Traverse Motel For Sale

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      Traverse City Office Building For Sale

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      Wooded Land Near Pyatt Lake

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    Similar Nearby for Lease

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      Traverse City Office Space Available

      Single-room office space for rent with shared amenities.
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    • $450 /Mo
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      Traverse City Office Building

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      Woodmere Avenue Retail/Office Space

      Affordable retail or office space near downtown Traverse City.
      717 Woodmere Ave, Traverse City, MI 49686
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    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 690 to 7,473 SqFt.
      3200 S Airport Rd W Grand Traverse MI 49684, Traverse City, MI 49686
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    • $24 SF/Yr
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      High-Visibility Traverse City Commercial Space

      Office or storefront space in a modern, high-traffic location.
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    • $1,750 /Mo
      1,473 SF

      Traverse City Retail/Service Space

      Freestanding building suitable for retail or service business.
      836 Hastings St, Traverse City, MI 49686
      View Details
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    Traverse City, MI 49686
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1 Northern Michigan, Traverse City, MI, 49686

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