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    305 S Us-31 Traverse City, MI 49685

    For Sale
    $675,000

    Office Building,Retail Store - Traverse City, MI

    Property size:
    3,840 SF
    Lot size:
    1.15 Acres
    Days on Market:
    124
    Last Refresh:
    Dec 14 at 3:06 pm

    Property Features for 305 S Us-31

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Size
    3,840 SF
    Lot size
    1.15 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1964
    Roof type
    Metal
    Architectural style
    Other

    EXIT Realty Paramount (231) 946-4404 [email protected]

    Listing agent Marty Stevenson (231) 946-4404

    Listing date Aug 13, 2025

    MLS# 1937517 Listing URL

    Copyright © 2025 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    High-Visibility Corner Lot on US-31

    This property features a high-visibility corner lot situated on US-31 at the intersection of US-31S and Foster Dr. The site is zoned CM in Blair Township, which allows for a variety of commercial uses. The location benefits from a high traffic count of over 25,000 cars per day, ensuring significant exposure. Existing buildings on the property, available at closing, include a 1,440-square-foot retail/office building and a 2,400-square-foot pole building. The total property size is 3,840 square feet, situated on a 1.15-acre lot. Located in Traverse City, Michigan, this property presents opportunities for utilizing the existing structures or redeveloping the site.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.655647431877
    Latitude
    44.681957890849

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    FAQs

    What type of property is this?
    Retail space - Corner lot with high traffic, ideal for commercial use.
    Where is this retail space located?
    The property is located at 305 S Us-31 Traverse City, MI.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - High-visibility corner lot on US-31 with high traffic count (over 25,000 cars/day).; - CM zoning allows a large variety of commercial uses.; - Includes a 1,440-sqft retail/office building and a 2,400-sqft pole building.
    (231) 946-4404
    Request Owner's contact information
    305 S Us-31 Traverse City, MI 49685
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    Traverse City, MI 49685
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    305 S Us-31 Traverse City, MI 49685
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