Downtown Space with Historic
For Lease
$28 SF/Yr
117 Union Street, Traverse City, MI 49684
First floor space in the heart of downtown.
Space SizeContact for details
Property Size2,586 SF
Days on Market97
Property Features for 117 Union Street
General Information
Standard status
Active
Size
2,586 SF
Zoning
Commercial
Building Details
Building Size
2,586 SF
Year Built
1900
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
David J Frost · License #6501203019
Source:
Carolbollo
Added: May 20
Changed: Aug 23
Last Checked: Aug 23 at 11:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Three West, LLC
Investment Insights
Based on property information with market context.
This first-floor space is located in the heart of downtown, just off Front Street in the active 100 block of Union Street. Formerly the Union Street Station, the property features a magnificent wood bar that is still intact, adding character for serving or retail display. The space has an open feeling with a tall ceiling, plenty of glass, and exposed brick. It is cleared out and ready to be remodeled to meet the new tenant's needs. The owner is willing to participate in remodel costs depending on use and final terms of the lease. The property is suitable for a bar, restaurant, retail, or office space. Taxes and insurance are approximately $3.25 per sq ft. The bike score is 92, indicating it is a biker's paradise, and the walk score is 78, indicating it is very walkable.
Key Highlights
- Prime downtown location on the active 100 block of Union Street, just off Front Street.
- Versatile space suitable for bar, restaurant, retail, or office use.
- Cleared out and remodel ready to meet tenant's specific needs.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$4.20 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
2,052
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Hotels & Casinos 19%
Groceries 8%
Dining 7%
Chase Bank
Shops & Services
6,517 visits/mo
0.3 miles
Hotel Indigo Traverse City
Hotels & Casinos
5,501 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
5,224 visits/mo
0.1 miles
Huntington Bank
Shops & Services
3,876 visits/mo
0.3 miles
Rocket Fizz
Groceries
2,403 visits/mo
0.1 miles
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Market
Lease Benchmarks for Traverse City, MI
$22.35 /SF/Yr
Avg Asking Price
$10–$37 /SF/Yr
Price Range
4,522 SF
Avg Space Size
This space is priced 25% above the average of $22.35 /SF/Yr.
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - First floor space in the heart of downtown.
Where is this retail space located?
The property is located at 117 Union Street Traverse City, MI.
What is the lease rate?
The lease rate is $28 SF/Yr.
What are key features of this property?
This property features: Prime downtown location on the active 100 block of Union Street, just off Front Street.; Versatile space suitable for bar, restaurant, retail, or office use.; Cleared out and remodel ready to meet tenant's specific needs.
