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    Multifamily Property with Multiple Barns
    Updated: Apr 30
    Multifamily Property with Multiple Barns

    55 S Hope Ridge, Traverse City, MI 49696

    $3,500,000
    15,383 sqft 40.39 AC lot
    40‑acre property about 8 minutes from downtown Traverse City, offering redevelopment potential for residential, commercial, or creative uses
    8 homes on site totaling over 16,000 sq ft, providing multiple living spaces and flexible configuration options
    Includes 4 large barns for storage and potential on‑site work or events use
    Designed for gatherings with capacity to hold over 80 guests
    Water provided by well; sewer is shared septic; roof is asphalt
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    This listing looks promising.

    Here's a quick look at some key insights for

    55 S Hope Ridge, Traverse City, MI 49696

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    • Est. Cap Rate

      4.2%
      NOI ÷ price

    • Est. NOI

      $146K
      Annual

    • Price @ 7% Cap

      $2.09M
      Suggested

    • Property Type

      Vacant Commercial
      Built 1989
    View Property Analytics
    Multifamily Land Opportunity
    Updated: Jan 27
    Multifamily Land Opportunity

    2624 Hartman Road, Traverse City, MI 49685

    $740,000
    5.25 AC lot
    Recently rezoned to R‑3 for potential apartment use (20–24 units estimated).
    Garfield Township location, minutes to everything TC has to offer.
    On‑site well and septic currently installed; municipal services are close by.
    Renters currently occupy the property.
    Property is also listed as Income property (1941898).
    View details
    Based on your search, we've compiled 12 Potential Opportunities for your consideration. Besides 2 Active listings in Traverse City, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 2 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Mixed-Use Building with Commercial Space
    Mixed-Use Building with Commercial Space

    525 W Mitchell Street, Petoskey, MI 49770

    $1,870,000
    10,580 sqft

    Multi-unit property with office/retail spaces and on-site rentals, including off-street parking.

    View details
    Mixed-Use Building with Rental Micro-Units
    Mixed-Use Building with Rental Micro-Units

    525 W Mitchell St, Petoskey, MI 49770

    $1,930,000
    22,405 sqft

    Commercially zoned building across from a regional hospital with micro rental units and office/retail space.

    View details
    Turnkey 8-Unit Multifamily Property
    Turnkey 8-Unit Multifamily Property

    1341 S Lakeshore Drive, Lake City, MI 49651

    $420,000
    4,880 sqft 2.11 AC lot

    Fully rented 8-unit complex with on-site expansion options plus pool-house and storage space for additional income streams.

    View details
    Turnkey Multifamily with Expansion Potential
    Turnkey Multifamily with Expansion Potential

    Lake City, MI 49651

    $420,000
    2,448 sqft 2.11 AC lot

    Fully rented 8-unit apartment complex with development potential.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Land Near Shepherd University
    Land Near Shepherd University

    8285 MARTINSBURG Pike, Shepherdstown, WV 25443

    $650,000
    3.70 AC lot

    Prime land near Shepherd University with development potential.

    View details
    Central Business Zoned Development Land
    Central Business Zoned Development Land

    107 HOWARD Street, La Plata, MD 20646

    $250,000
    0.23 AC lot

    Central Business zoned parcel with plans for a three-story mixed-use building and 15 parking spaces.

    View details
    Asheville Development Opportunity: 5.94 Acres
    Asheville Development Opportunity: 5.94 Acres

    215 N Bear Creek Road, Asheville, NC 28806

    $2,500,000
    5.94 AC lot

    5.94-acre parcel zoned RM6, ideal for multi-family development.

    View details
    Detached Two-Family Residence
    Detached Two-Family Residence

    69 Martense Street, Brooklyn, NY 11226

    $1,888,888
    0.10 AC lot

    Detached two-family home with two 3-bedroom apartments and a semi-finished basement featuring a separate entrance.

    View details

    Off-Market Properties in Traverse City, MI

    Consider similar Off-Market properties in Traverse City, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    1040 Front St
    Individual retail properties

    1040 Front St, Traverse City, MI 49686

    Value Estimation by Request
    1,864 sqft 0.63 AC lot
    View details
    2624 Hartman Rd
    Multifamily properties

    2624 Hartman Rd, Traverse City, MI 49685

    Value Estimation by Request
    5.25 AC lot
    View details

    Traverse City, MI Apartment Buildings Market Trends and Statistics

    Explore 4 apartment buildings for sale in Traverse City, MI on our real estate platform. These investment opportunities span a total of 15,383 square feet of properties for sale, with an estimated market value of $3,500,000.

    Sale prices for two-family homes in Traverse City, MI start at $3,500,000, averaging $3,500,000, and reaching up to $3,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 78K
    Population Growth (5Y) -35.5%
    Median Household Income $78,889
    College Educated 59.4%

    High-Yield Neighborhoods for Investment

    Identify Traverse City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49684 $1.4M

    Taxes & Financing

    Tax Rate (average for all types) 4.34%
    Property Tax per SF $71.64 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Grand Traverse County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Grand Traverse County

    Office

    Property Size Breakdown

    The majority of commercial real estate listings in Traverse City fall within the 100,000+ square foot range.

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    Most Searched ZIP Codes in Traverse City, MI

    • 49685
    • 49696

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