531 W Front Street, Traverse City, MI 49684 (MLS # 80016632)

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PRICE $1,825,000 dsIDX morgage calculator
SIZE 1,592 sqft
LOT SIZE 8,277 sqft

This is a fantastic redevelopment opportunity directly on Front Street, where the value lies in the land. It comes with engineered plans for a cutting-edge project featuring twelve luxury condos, each about 1,400 square feet. Three out of twelve units are eligible for STR. There's also 3,000 square feet of flexible commercial space on the ground floor that could be used for retail or common space for condominium owners: gym, shared workspace, lounge, etc., and a huge rooftop lounge perfect for relaxing. We've crunched the numbers and see a potential sellout value of $15 million. You'll need to wrap up some additional engineering before breaking ground. Do your own due diligence to determine your comfort level with the project.

DAYS ON MARKET 14 LAST UPDATED 4/18/2024
TRACT None YEAR BUILT 2024
COMMUNITY Traverse City (28021) COUNTY Grand Traverse
STATUS Active PROPERTY TYPE(S) Commercial


ADDITIONAL DETAILS
AIR None
AREA Traverse City (28021)
HEAT None
INTERIOR Restaurant
LOT 8276 sq ft
LOT DIMENSIONS 50x163
SEWER Public Sanitary
SUBDIVISION None
WATER Public Water
ZONING Commercial
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listing with MLS: , The Mitten Real Estate Group

Source MLS: MiRealSource

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