Mixed-Use Development Site with
4160 M 72 E Williamsburg, MI 49690
For Sale
$1,995,000
Shovel-ready mixed-use site with fully developed utilities, an approved PD, and a 12,000-sq-ft existing mixed-use building.
Property Size12,000 SF
Lot Size4.35 Acres
Price / SF$166.25
Days on Market224
Property Features for 4160 M 72 E
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 4.35 Acres
Listing Agency:
REMAX Bayshore - West Shore Dr TC
(231) 941-4500
Listed By:
Robert Brick · License #6502134537
(231) 941-4500
Source:
Exprealty
Added: Dec 12, 2025
Changed: Jul 23
Last Checked: Jul 23 at 4:37PM
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 REMAX Bayshore - West Shore Dr TC
Investment Insights
Based on property information with market context.
A 4.35-acre mixed-use development site with an approved PD for a building footprint of 32,300 sq ft and a 45-foot height requirement. The plan includes retail on the first floor with capacity for up to 19 units, plus two floors of residential condominium units. Site infrastructure is fully developed, including underground sewer, water, electric, cable, and storm water management. An included 12,000 sq ft mixed-use building known as the former Williamsburg Dinner Theatre is part of the offering.
The property is located on a busy thoroughfare with easy access and is described as being within approximately a 1/4 mile of the east arm of Grand Traverse Bay and the newly renovated public Bayside Park. It is directly adjacent to Acme Meijer. Additional nearby context referenced in the remarks includes proximity to Turtle Creek Casino and the Grand Traverse Resort & Spa.
The site also provides direct access to the TART Trail and includes a newly constructed bridge over cascading Acme Creek, connecting to an adjoining KOTI property referenced in the remarks.
The property is located on a busy thoroughfare with easy access and is described as being within approximately a 1/4 mile of the east arm of Grand Traverse Bay and the newly renovated public Bayside Park. It is directly adjacent to Acme Meijer. Additional nearby context referenced in the remarks includes proximity to Turtle Creek Casino and the Grand Traverse Resort & Spa.
The site also provides direct access to the TART Trail and includes a newly constructed bridge over cascading Acme Creek, connecting to an adjoining KOTI property referenced in the remarks.
Key Highlights
- 4.35‑acre mixed‑use development site with an approved PD for a 32,300 SF building footprint and 45‑ft height requirement
- PD allows retail on floor 1 for up to 19 units plus 2 floors of residential condominium units
- All site infrastructure is developed, including underground sewer, water, electric, cable, and storm water management
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 | $230.4k | $19.20 |
| − Vacancy | −$18.4k | −$1.54 |
| EGI | $212.0k | $17.66 |
| − OpEx | −$63.6k | −$5.30 |
| NOI | $148.4k | $12.36 |
12,000 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.12M
$1.85M – $2.47M
NOI $148,378 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,048 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,477 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Shovel-ready mixed-use site with fully developed utilities, an approved PD, and a 12,000-sq-ft existing mixed-use building.
Where is this mixed-use property located?
The property is located at 4160 M 72 E Williamsburg, MI.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4.35‑acre mixed‑use development site with an approved PD for a 32,300 SF building footprint and 45‑ft height requirement; PD allows retail on floor 1 for up to 19 units plus 2 floors of residential condominium units; All site infrastructure is developed, including underground sewer, water, electric, cable, and storm water management
