18599 Mission Rd Traverse City, MI 49686

Property Details for 18599 Mission Rd

Property type

Hotels

Description

This exceptional investment opportunity presents the chance to acquire the Old Mission Inn, a beautifully restored historic Victorian Inn located on the Old Mission Peninsula in Traverse City, Michigan. The property includes 13 unique guest rooms and 11 baths, a large covered porch, multiple elegant dining spaces, and a spacious commercial kitchen. The sale also encompasses the Mission Bay Cafe, a well-established bar and restaurant with potential for expansion into fine dining or a beer garden. Boasting breathtaking Lake Michigan views, the Inn is situated in the heart of the renowned wine region, offering guests an unforgettable experience. The property sits on over 10 acres and features a full liquor license, making it ideally suited for weddings, events, and other special occasions. With a 10% cap rate and an asking price of $5,000,000, this Class A property presents a rare opportunity to own an iconic establishment with established business and significant upside potential. The property is a successful historical inn and bar/restaurant with endless possibilities for expansion and diversification. The existing infrastructure supports a full-service bar and restaurant, with potential for a beer garden and takeout options. The commercial kitchen and numerous dining areas are well-suited for hosting events and weddings. This is a truly unique opportunity to own a piece of Michigan history and capitalize on the thriving tourism and hospitality industry in the Traverse City area.