Three-Story Storefront
For Sale
$2,790,000
118 E Front St, Traverse City, MI 49684
C-4B zoning allows commercial or residential use.
Property Size9,045 SF
Price / SF$308.46
Days on Market673
Property Features for 118 E Front St
General Information
Standard status
Active
Size
9,045 SF
Total Parking Spaces
3
Property subtype
Commercial
Zoning
C-4B
Building Details
Year Built
1900
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Three West, LLC
Listed By:
David J Frost · License #6501203019
(231) 620-5705
Source:
Vmrealestatemichigan
Added: Dec 2, 2024
Changed: Oct 1
Last Checked: Oct 5 at 7:09PM
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 three-story storefront building was constructed in 1900 and contains 9,045 SF. Its exterior combines brick and natural wood, with bay windows facing Front Street. Interior brick walls and ceilings of more than 10 feet are among the building’s features. A full basement, separate from the stated building area, provides storage and mechanical space.
The property is at 118 E Front St in downtown Traverse City. Three private parking spaces are located behind the building, alongside metered lots and additional parking spaces. C-4B zoning allows commercial or residential use.
The property is at 118 E Front St in downtown Traverse City. Three private parking spaces are located behind the building, alongside metered lots and additional parking spaces. C-4B zoning allows commercial or residential use.
Key Highlights
- 9,045 SF across three floors; full basement is additional and excluded from this area
- Built in 1900 with brick and natural wood exterior details and bay windows
- Ceilings exceed 10 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,840
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,236,800
$2.2M
Cap Rate 7%
$1,597,714
$1.6M
Cap Rate 9%
$1,242,667
$1.2M
Market Conditions
NOI Build-Up for 9,045 SF
Gross rent
$173.7K $19.20/SF
− Vacancy
−$13.9K −$1.54/SF
EGI
$159.8K $17.66/SF
− OpEx
−$47.9K −$5.30/SF
NOI
$111.8K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,236,800
Cap Rate 7%
$1,597,714
Cap Rate 9%
$1,242,667
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.86M
NOI $111,840 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,542 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
36k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Hotels & Casinos 15%
Dining 12%
Groceries 7%
Chase Bank
Shops & Services
6,517 visits/mo
0.1 miles
Hotel Indigo Traverse City
Hotels & Casinos
5,501 visits/mo
0.3 miles
Fifth Third Bank & ATM
Shops & Services
5,224 visits/mo
0.2 miles
Shell
Shops & Services
4,298 visits/mo
0.5 miles
Huntington Bank
Shops & Services
3,876 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- The Flower Station — 341 W Front St, Traverse City, MI 49684
- Mourning Wreaths — 617 e state st, traverse city, mi 49686
- Darling Botanical Company — 144 Hall St, Traverse City, MI 49684
Frequently Asked Questions
What type of property is this?
Storefront property - C-4B zoning allows commercial or residential use.
Where is this storefront property located?
The property is located at 118 E Front St Traverse City, MI.
What is the asking price?
The asking price for this property is $2,790,000.
What are key features of this property?
This property features: 9,045 SF across three floors; full basement is additional and excluded from this area; Built in 1900 with brick and natural wood exterior details and bay windows; Ceilings exceed 10 feet
