Iconic Traverse City Mixed-Use Building

121 E Front Street, Traverse City, MI 49684

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For Sale

$3,975,000

Landmark mixed-use building in downtown Traverse City with redevelopment potential.

Type:Commercial/Industrial

Property size:

23,983 SF

Lot size:

0.21 Acres

Price / SF:

$165/SF

HighLights

Prime downtown Traverse City location on Front Street with panoramic views.
Iconic building with historical significance as the 'Front Row Centre'.
Versatile mixed‑use property with retail, office spaces, and a fully equipped event space.
Impressive five‑level structure with a stunning atrium and multi‑story windows.
Currently houses a diverse community of 15 retail establishments and business offices.
1,650‑sq/ft suite on the fourth floor with premium views and customization potential.

We can help!

Listing Contact

Mark D Hagan

For Sale

$3,975,000

Landmark mixed-use building in downtown Traverse City with redevelopment potential.

Type:Commercial/Industrial

Property size:

23,983 SF

Lot size:

0.21 Acres

Price / SF:

$165/SF

Added:: Jan 8, 2025
Days on Market:: 520
Last Refresh:: May 19 at 10:58 pm

Property Features for 121 E Front Street

General Information

Standard status: Active
Size: 23,983 SF
Lot size: 0.21 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1930

We can help!

Listing Contact

Mark D Hagan

Listing agent Mark D Hagan License #6506006708

Listing office Coldwell Banker Schmidt Traverse City

Listing date Jan 8, 2025

Source Exitrealty

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 Coldwell Banker Schmidt Traverse City

HighLights

Prime downtown Traverse City location on Front Street with panoramic views.
Iconic building with historical significance as the 'Front Row Centre'.
Versatile mixed‑use property with retail, office spaces, and a fully equipped event space.
Impressive five‑level structure with a stunning atrium and multi‑story windows.
Currently houses a diverse community of 15 retail establishments and business offices.
1,650‑sq/ft suite on the fourth floor with premium views and customization potential.

Overview

The Front Row Centre building, located at 121 E Front Street in downtown Traverse City, Michigan, is a prominent landmark. This substantial five-level structure, featuring four above-ground floors and a lower level, offers panoramic views of Front Street, the Boardman River, and West Grand Traverse Bay. Originally a movie theater, it has been transformed into a mixed-use retail and office space. The building includes an atrium with multi-story windows providing waterfront views and natural light. Currently, Front Row Centre houses 15 retail establishments and business offices, along with a fully equipped event space in the lower level. A 1,650-sq/ft suite on the fourth floor offers premium views and customization potential. The property, with a total size of 23,983 sqft, presents redevelopment potential in Traverse City's downtown district.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$460.5k	$19.20
− Vacancy	−$36.8k	−$1.54
EGI	$423.6k	$17.66
− OpEx	−$127.1k	−$5.30
NOI	$296.5k	$12.36

23,983 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$4.24M

$3.71M – $4.94M (±1% cap)

NOI $296,545 @ 7.0% cap · market cap 7.46%

Second Best

Office B

$3.67M

$3.21M – $4.28M (±1% cap)

NOI $256,858 @ 7.0% cap · market cap 6.46%

Theoretical Best

Office A

$5.21M

$4.56M – $6.08M (±1% cap)

NOI $364,695 @ 7.0% cap · market cap 9.17%

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

Property Profile Location Intelligence

Current Use by Public Records

Suite Jayne girls ... Hair Salon Jeffrey C Alandt Law Firm Harbor View Lavender ... Department Store Secondhand Social Club Theater & Performing Art Venue Unparalleled Apparel Clothing Store

Suggested Use

Location Insight

Map
Local Demand

City: Traverse City
County: Grand Traverse
State: Michigan
Longitude: -85.6228
Latitude: 44.7642

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For sale
Mixed-use properties
MI
Traverse City
49684
121 E Front Street

What type of property is this?

Mixed-use property - Landmark mixed-use building in downtown Traverse City with redevelopment potential.

Where is this mixed-use property located?

The property is located at 121 E Front Street Traverse City, MI.

What is the asking price?

The asking price for this property is $3,975,000.

What are key features of this property?

This property features: Prime downtown Traverse City location on Front Street with panoramic views.; Iconic building with historical significance as the 'Front Row Centre'.; Versatile mixed‑use property with retail, office spaces, and a fully equipped event space.