120 Park St Traverse City, MI 49684
C4-C zoned parcel includes a prior micro brewery setup with kitchen exhaust components and a compact site plan.
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 (231) 357-7800
Listing date Dec 9, 2025
Source Exprealty
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Investment Insights
Based on property information with market context.
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 |