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    851 S Garfield Ave Traverse City, MI 49686

    For Lease
    $7,700 /Mo ($18 SF/Yr)

    Restaurant/Food Service,Bar - Traverse City, MI

    Property size:
    5,133 SF
    Lot size:
    0.44 Acres
    Days on Market:
    87
    Last Refresh:
    Dec 14 at 8:06 am

    Property Features for 851 S Garfield Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial,Restaurant/Food
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3
    Bathrooms
    3
    Parking
    75
    Basement Y/N
    1
    Size
    5,133 SF
    Lot size
    0.44 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Roof type
    Membrane
    Architectural style
    Other

    Traverse Real Estate (231) 590-5091 [email protected]

    Listing agent Thomas Cronin (231) 590-5091

    Listing date Sep 19, 2025

    MLS# 1938798 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

    Spacious Restaurant/Bar in Busy Complex

    This property, suitable for restaurant or food service and bar use, is situated within a busy strip mall complex experiencing high traffic, with an average of 21,000 cars passing by daily. Located near the airport and several new construction projects, the property benefits from consistent year-round business. The space measures over 5,100 square feet, accommodating large events and busy crowds. A Class C liquor license is available. The property has a capacity of 190 people and is divided into four main areas: a bar area, the main restaurant area, a new patio, and a spacious back room suitable for special events. The back room can accommodate large gatherings such as banquets, birthday parties, and corporate events, complementing the spacious front seating area. The business elements, including the liquor license, kitchen equipment, and furniture, are valued at $275,000. The lot size is 0.44 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.594424
    Latitude
    44.751637

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    FAQs

    What type of property is this?
    Restaurant - High-traffic restaurant/bar with liquor license and event space for rent.
    Where is this restaurant located?
    The property is located at 851 S Garfield Ave Traverse City, MI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location in a bustling strip mall complex with 21,000 cars passing daily.; - Class C liquor license available.; - Large 5,100+ sq ft space with a capacity of 190 people.
    (231) 590-5091
    Request Owner's contact information
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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
    851 S Garfield Ave Traverse City, MI 49686
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