Active
531 W Front Street
Traverse City MI, 49684
$1,825,000
$1,146.36 per sqft
Active
1,592 sqft
Commercial
Built in 2024
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.
1921277
MLSⓇ ID
April 18, 2024
Listed
May 9, 2024
Updated
Map
531 W Front Street
Traverse City MI, 49684
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.19 Acres
Exterior Features
None
Roof
None
Sewer
Municipal
School Information
School District
0
Other Property Details
Area Name
Grand Traverse
Days on Market
3
Garage
No
Parking
None
View
No
County
Grand Traverse
Municipality
Traverse City
Water Source
Municipal Water
Pool
No
Zoning
Commercial,Special Use
Buyer Agency Compensation
2.5%
Listed by Abigail Vannatter with The Mitten Real Estate Group
Listing Contact: 231-944-9697
The IDX display contains information sourced from the Northern Great Lakes REALTORS® MLS as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 5/9/2024 at 10:38 AM UTC