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Downtown Development Parcel with Building

120 Park St Traverse City, MI 49684

120 Park St, Traverse City, MI, 49684
$1,350,000
For Sale
Claim this Listing
$1,350,000

C4-C zoned parcel includes a prior micro brewery setup with kitchen exhaust components and a compact site plan.

Property Size3,500 SF
Lot Size0.17 Acres
Price / SF$385.71
AddedDec 9, 2025
Days on Market218
Last RefreshJul 14 at 2:19 am

Property Features for 120 Park St

General Information

Standard status
Active
Size
3,500 SF
Lot size
0.17 Acres

Listing office Twin Bay Properties, LLC

Listing date Dec 9, 2025

Source Exprealty

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 Twin Bay Properties, LLC


Investment Insights

Based on property information with market context.

This spectacular downtown development parcel in Traverse City includes an existing building previously used as a micro brewery. The space can be re-established as a brewery, or converted back to restaurant use, with hoods, vents, and a walk-in cooler included. The property is also positioned as a strong candidate for an office or retail use, subject to tenant and permitting requirements.

Zoned C4-C, the site allows for maximum height and density. The parcel includes a 7,392-square-foot building lot with minimum setbacks, and the offering notes that no parking is required.

The current configuration supports multiple redevelopment directions, including maintaining the existing building footprint or pursuing a redesign within the zoning parameters.

Key Highlights

  • Downtown Traverse City development parcel zoned C4‑C, allowing for maximum height and density (per listing).
  • Former micro brewery building setup, with kitchen exhaust components plus hoods, vents, and a walk‑in cooler included.
  • Previously used as a micro brewery; listing notes it could be re‑established or converted back to restaurant use (h e d s, vents and walk‑in cooler included).

Local Financial Insights For Specialty 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 $66.4k $18.96
− Vacancy −$4.0k −$1.14
EGI $62.4k $17.82
− OpEx −$15.6k −$4.46
NOI $46.8k $13.37
3,500 SF · lease $18.96/SF/yr · vacancy 6.00% · expense 25.00%

Alternative Uses

Best Use
Specialty Retail
$668.3K
$584.8K – $779.7K (±1% cap)
NOI $46,784 @ 7.0% cap · market cap 3.47%
Second Best
Industrial
$291.4K
$255.0K – $339.9K (±1% cap)
NOI $20,396 @ 7.0% cap · market cap 1.51%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K (±1% cap)
NOI $53,222 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

UBrew Homebrew Supply Big Box & Wholesale Store Fresh Coast Beer ... Production Facility

Suggested Use

Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Electrical Service HVAC Service Grocery & Convenience Store Building Supply Plumbing Service Furniture & Home Goods (Bike/Boat/Book/etc) Store

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

FAQs

What type of property is this?
Brewery - C4-C zoned parcel includes a prior micro brewery setup with kitchen exhaust components and a compact site plan.
Where is this brewery located?
The property is located at 120 Park St Traverse City, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Downtown Traverse City development parcel zoned C4‑C, allowing for maximum height and density (per listing).; Former micro brewery building setup, with kitchen exhaust components plus hoods, vents, and a walk‑in cooler included.; Previously used as a micro brewery; listing notes it could be re‑established or converted back to restaurant use (h e d s, vents and walk‑in cooler included).
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