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    Traverse City, MI
    Conventional Restaurant

    Traverse City, MI Conventional Restaurants for Sale

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    Downtown Development Parcel with Brewery
    Updated: Dec 11, 2024
    Downtown Development Parcel with Brewery

    120 Park Street, Traverse City, MI 49684

    $1,350,000
    3,500 sqft 0.17 AC lot
    Development parcel in Downtown Traverse City zoned C4‑C for maximum height and density
    Existing building previously used as a micro brewery; restaurant conversion includes hoods, vents, and a walk‑in cooler
    Building lot size is 7,392 sq. ft. with minimum setbacks and no parking required
    Exterior features include block construction
    Construction materials include block and steel
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    This listing looks promising.

    Here's a quick look at some key insights for

    120 Park Street, Traverse City, MI 49684

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    • Est. Cap Rate

      3.5%
      NOI ÷ price

    • Est. NOI

      $47K
      Annual

    • Price @ 7% Cap

      $668K
      Suggested

    • Property Type

      Nightclub
      Built 1956
    View Property Analytics
    Restaurant-Bar with Rooftop Deck
    Updated: Jun 14
    Restaurant-Bar with Rooftop Deck

    423 S Union Street Unit North Ad, Traverse City, MI 49684

    $725,000
    1,206 sqft
    2009 north addition restaurant/bar space (17 x 165' lot dimensions) in Traverse City’s Old Town neighborhood
    Approximately 1,200 SF restaurant/bar/retail area with rooftop deck and bar
    Outdoor seating in front of the building plus an overhead door to open the space to the outdoors
    Roof is membrane; HVAC includes central air and heating system listed as "3"
    Parking includes a garage, lot, and on‑street parking; adjacent to the Old Town parking deck
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    Downtown Development Parcel with Building
    Downtown Development Parcel with Building

    120 Park St, Traverse City, MI 49684

    $1,350,000
    3,500 sqft 0.17 AC lot

    C4-C zoned parcel includes a prior micro brewery setup with kitchen exhaust components and a compact site plan.

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    Historic Mixed-Use Building Near West Bay
    Historic Mixed-Use Building Near West Bay

    601 Randolph St, Traverse City, MI 49684

    $1,400,000

    Unique mixed-use property in prime location near shopping and dining.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Corner Office and Restaurant Building
    Corner Office and Restaurant Building

    12930 S West Bay Shore Dr, Traverse City, MI 49684

    $1,695,000

    Fully furnished corner building with a renovated restaurant main floor and multi-office occupancy upstairs.

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    Historic Multi-Patio Restaurant & Bar
    Historic Multi-Patio Restaurant & Bar

    423 S Union St, Traverse City, MI 49684

    $2,400,000

    Restaurant and bar space with seating for 200-plus, fully equipped commercial kitchen, and multiple outdoor patios.

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    Commercial
    Commercial

    Traverse City, MI 49684

    $1,695,000

    Mixed-use properties

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 7 Active listings in Traverse City, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

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

    Turn-Key Bar & Restaurant with Liquor
    Turn-Key Bar & Restaurant with Liquor

    9289 Walta Street, Kaleva, MI 49645

    $599,000
    5,159 sqft 1.15 AC lot

    Turn-key Kaleva bar and restaurant with a full kitchen buildout, seating, and a Class C liquor license included.

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    Lake City Commercial Opportunity
    Lake City Commercial Opportunity

    81 N Morey Road, Lake City, MI 49651

    $119,900
    510 sqft 0.01 AC lot

    Established restaurant with high visibility in Lake City, Michigan.

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    Turn-Key Restaurant and Bar
    Turn-Key Restaurant and Bar

    9289 Walta St, Kaleva, MI 49645

    $599,000

    Turn-key restaurant and bar offering a full Class C liquor license and complete kitchen and seating for immediate operation.

    View details
    Restaurant with Natural Gas Pizza Oven
    Restaurant with Natural Gas Pizza Oven

    81 N Morey Road, Lake City, MI 49651

    $119,900

    Turnkey pizza restaurant offering included commercial kitchen equipment and high-visibility roadside access near major intersections.

    View details

    Traverse City, MI Conventional Restaurants Market Trends and Statistics

    Explore 7 conventional restaurants for sale in Traverse City, MI, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 8,206 square feet of properties for sale, with an estimated market value of $3,425,000.

    Sale prices for conventional restaurants in Traverse City, MI start at $725,000, averaging $1,141,666, and reaching up to $1,350,000 — 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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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Conventional restaurants 13
    Bars & Pubs 5
    Coffee shops 2
    Commercial kitchens 2
    Drive through restaurants 1

    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
    49686 $1.3M
    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 2,500 to 5,000 square foot range.

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