5961 E Oslo Street $14,900,000

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    5961 E Oslo Street Williamsburg, MI 49690

    • 18.16 Acres
    • Commercial
    • MLS# 1928608
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    Views: 4 Days On Site: 6

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    Property Details

    Presenting KOTI, the Finnish word for home, a rare investment opportunity in one of Michigan's premier vacation destinations. This Scandinavian-inspired resort spans approximately 18 acres of pristine Northern Michigan landscape, situated just a ¼ mile from the East Arm of Grand Traverse Bay and within minutes to downtown Traverse City. KOTI's unique design and location make it the ideal spot for everything from quiet getaways to family vacations, reunions, and more. The planned community includes up to 76 stand-alone cottages, each featuring the signature elements of Scandinavian design: warm functionality, simplicity, and beauty. With both 2- and 3-bedroom options, the cabins are designed to blend comfort with style, creating an inviting atmosphere for all guests. To date, 21 cottages have been completed and are currently being leased, generating close to $700,000 in rental income annually. Also included is a fully renovated restaurant with liquor license and a Class C SDM, allowing for the sale of packaged wine and beer, as well as a 13,000 sq ft event center, a 4,500 sq ft commercial kitchen, and a 1,000 sq ft visitor center/store with an office. Additionally, this property is pre-approved for an expanded mixed-use complex with up to 120,000 sq ft for hotel, condo, office, and retail spaces. With roads, utilities, walkways, and bridges already in place, KOTI is ready for the next stage of development. Located near premier attractions like Grand Traverse Resort & Spa, Turtle Creek Hotel & Casino, and Flint Fields, KOTI is uniquely positioned to become one of Michigan's most distinctive vacation rental resort communities. Capture this once-in-a-lifetime chance to invest in a truly exceptional destination that showcases the best of Scandinavian-inspired design, Northern Michigan hospitality, and breathtaking natural surroundings.

    • General Features
      • Licenses Liquor
      • Included In Lease None
      • Business Incl Yes
      • Business Name KOTI Vacation Rentals
      • Type of Ownership Private Owner
      • Approx Year Built 2023
      • Type Mixed Use
      • Town T 27N
      • Township Acme
      • Present Use Recreational/Resort,Other
    • Building Features
      • Extras Additional Buildings
      • Foundation Slab
      • Heating Cooling Source Natural Gas
      • Roof Metal, Other
      • Heating Cooling Type Forced Air, Central Air
      • Apx Total Fin SQFT 1,780
    • Property Features
      • Water Municipal Water
      • Vacant Land Yes
      • Univs Design/Barrier Free Main Floor Access
      • Sewer Municipal
      • Parking Paved, Parking Lot
      • Exterior Features Wood
      • Construction Frame
      • Lot Dimensions IRREG
      • Location Freestanding

    Neighborhood

    49690 (Williamsburg) Demographics

    49 Median Age
    76 Population Density (per sq. mile)
    50% College Educated
    $82,732 Estimated Median Income
    2,425 Estimated Total Home Owners
    325 Estimated Total Renters
    88% / 12% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    6,868 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $520,000 Median Sales Price
    17 Homes Sold
    13 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $14,900,000
        11/2/2024 4:06:00 AM Status Changed Source: Multiple Listing Service New Value: Active
        10/30/2024 12:06:00 PM New in Database Source: Multiple Listing Service New Value: $14,900,000

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        The data relating to real estate for sale on this web site comes in part from the Internet Data exchange ("IDX") program of Northern Great Lakes REALTORS MLS. All information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.