Three-Story Downtown Retail
118 E Front Street Traverse City, MI 49684
118 E Front Street, Traverse City, MI, 49684
$2,790,000
For Sale
$2,790,000
COMMERCIAL - Traverse City, MI
Property Size9,045 SF
Lot Size0.10 Acres
Price / SF$308.46
Days on Market540
Property Features for 118 E Front Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Exterior features
- Wood, Brick
- Standard status
- Active
- Size
- 9,045 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Description
- THE 27.25 FT NEXT E OF THE W 12.97 FT OF LOT 4 BLOCK 5 ORIGINAL PLAT EXC PARTY WALL RIGHTS
Building Details
- Building materials
- Brick
- Roof type
- Membrane
Listing Agency
Three West, LLC
(231) 929-2955
1131 E Eighth Street, Traverse City, MI
Listed by
David Frost · License #6501203019
(231) 929-2955
Added: Jan 27, 2025 Updated: Jul 2 at 9:36 am Checked: Jul 21 at 2:06 am
MLS# 1930524
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 is a three-story retail building totaling 9,045 square feet across three floors, presented in the distinctive Wurzburg Building style. The exterior features a handsome natural wood facade with bay windows extending onto Front Street, and a designated crosswalk in front of the building. Brick exteriors and brick interior walls contribute to the character of the property, and the brick interior walls could be re-revealed if desired. The space includes 10-foot-plus ceilings on the upper floors and a full basement that is not included in the stated 9,045 square feet, offering storage and room for mechanicals.
The building is positioned on two downtown blocks in Traverse City, with the bay windows extending toward Front Street. Access and parking are supported by three private parking spaces behind the building, along with additional parking behind the building in nearby metered lots and parking spaces.
Zoned C-4B, the property allows for commercial or residential use, making it a practical fit for operators seeking a multi-level storefront structure as well as buyers exploring mixed-use directions within the permitted zoning framework. The combination of rear parking, basement support space, and high ceilings on the upper floors provides flexibility for a range of redevelopment and tenanting plans consistent with the zoning designation.
The building is positioned on two downtown blocks in Traverse City, with the bay windows extending toward Front Street. Access and parking are supported by three private parking spaces behind the building, along with additional parking behind the building in nearby metered lots and parking spaces.
Zoned C-4B, the property allows for commercial or residential use, making it a practical fit for operators seeking a multi-level storefront structure as well as buyers exploring mixed-use directions within the permitted zoning framework. The combination of rear parking, basement support space, and high ceilings on the upper floors provides flexibility for a range of redevelopment and tenanting plans consistent with the zoning designation.
Key Highlights
- Iconic Wurzburg Building in downtown Traverse City with over 9,000 SF across 3 floors
- Brick exterior with natural wood facade and bay windows extended onto Front Street
- Membrane roof and 10+ ft ceilings, with brick interior walls that could be rerevealed
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 | $173.7k | $19.20 |
| − Vacancy | −$13.9k | −$1.54 |
| EGI | $159.8k | $17.66 |
| − OpEx | −$47.9k | −$5.30 |
| NOI | $111.8k | $12.36 |
9,045 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Aliferous Beauty Lounge
Hair Salon
Brilliant Books
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Darling Botanical Company — 144 Hall St, Traverse City, MI 49684
- Mourning Wreaths — 617 e state st, traverse city, mi 49686
- The Flower Station — 341 W Front St, Traverse City, MI 49684
FAQs
What type of property is this?
Storefront property - Three-floor retail building with 10-foot-plus ceilings, basement storage, and rear parking, zoned for commercial or residential use.
Where is this storefront property located?
The property is located at 118 E Front Street 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: Iconic Wurzburg Building in downtown Traverse City with over 9,000 SF across 3 floors; Brick exterior with natural wood facade and bay windows extended onto Front Street; Membrane roof and 10+ ft ceilings, with brick interior walls that could be rerevealed
