Mixed-Use Development Site with
4160 M-72 E Williamsburg, MI 49690
4160 M-72 E, Williamsburg, MI, 49690
$1,995,000
For Sale
$1,995,000
COMMERCIAL - Williamsburg, MI
Property Size12,259 SF
Lot Size4.35 Acres
Price / SF$162.74
Days on Market218
Property Features for 4160 M-72 E
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 12,259 SF
- Lot size
- 4.35 Acres
Taxes and HOA fees
- Tax Description
- Lengthy legal - See Associated Documents
- Tax Annual Amount
- 126931
Building Details
- Building materials
- Frame
Listing Agency
REMAX Bayshore - West Shore Dr TC
(231) 941-4500
12930 S West Bay Shore Dr, Traverse City, MI
Listed by
Robert Brick
(231) 715-1464
Added: Dec 12, 2025 Checked: Jul 18 at 3:06 am
MLS# 1941135
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This shovel-ready development site includes a 4.35-acre parcel with fully developed site infrastructure: underground sewer, water, electric, cable, and storm water management. The property is currently zoned for multi-story/mixed use, with an approved PD that supports a building footprint of 32,300 square feet and a 45-foot height requirement. The approved concept contemplates retail on the first floor for up to 19 units, plus two floors of residential condominium units. Also included is a 12,000-square-foot mixed-use building known locally as the former Williamsburg Dinner Theatre.
The property is positioned on a busy thoroughfare with easy access, at 4160 M-72 E in Williamsburg, Michigan. The site is described as directly adjacent to Acme Meijer, and approximately one-quarter mile from the east arm of Grand Traverse Bay and the newly renovated Bayside Park. Additional stated distances include about 3.5 miles to Turtle Creek Casino and less than 1.5 miles to the Grand Traverse Resort & Spa.
For buyers or developers, the combination of an approved mixed-use plan and completed infrastructure may support streamlined permitting and construction planning. The included existing building could also be evaluated as part of a broader redevelopment or repositioning strategy consistent with the site’s mixed-use approvals.
The property is positioned on a busy thoroughfare with easy access, at 4160 M-72 E in Williamsburg, Michigan. The site is described as directly adjacent to Acme Meijer, and approximately one-quarter mile from the east arm of Grand Traverse Bay and the newly renovated Bayside Park. Additional stated distances include about 3.5 miles to Turtle Creek Casino and less than 1.5 miles to the Grand Traverse Resort & Spa.
For buyers or developers, the combination of an approved mixed-use plan and completed infrastructure may support streamlined permitting and construction planning. The included existing building could also be evaluated as part of a broader redevelopment or repositioning strategy consistent with the site’s mixed-use approvals.
Key Highlights
- 4.35‑acre parcel approved PD for mixed‑use development with a 32,300 SF building footprint and 45‑ft height requirement
- Approved mix includes retail on floor 1 for up to 19 units plus 2 floors of residential condominium units
- All site infrastructure is fully developed: underground sewer, water, electric, cable, and storm water management
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $235.4k | $19.20 |
| − Vacancy | −$18.8k | −$1.54 |
| EGI | $216.5k | $17.66 |
| − OpEx | −$65.0k | −$5.30 |
| NOI | $151.6k | $12.36 |
12,259 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.17M
$1.89M – $2.53M
NOI $151,580 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,510 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,415 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Shovel-ready mixed-use parcel with fully developed utilities and an included former dinner theatre building.
Where is this commercial land located?
The property is located at 4160 M-72 E Williamsburg, MI.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4.35‑acre parcel approved PD for mixed‑use development with a 32,300 SF building footprint and 45‑ft height requirement; Approved mix includes retail on floor 1 for up to 19 units plus 2 floors of residential condominium units; All site infrastructure is fully developed: underground sewer, water, electric, cable, and storm water management
