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    Griffin St Traverse City, MI 49684

    Sponsored
    For Sale
    $990,000

    Prime location, 4,789 SF, redevelopment opportunity.

    Property size:
    4,789 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Traverse City commercial property, located at 114 E Griffin St, presents a compelling redevelopment opportunity. The 4,789 square foot building sits on a 0.32-acre lot and boasts versatile C-3 zoning, ideal for a variety of commercial uses, including retail or office space. Built in 1962, this single-story structure offers significant potential for renovation or repurposing. Its prime location in Traverse City, MI 49684, ensures high visibility and accessibility, with proximity to 14th Street, Munson Hospital, and the downtown area. The property's position across from Saint Francis Church benefits from substantial community activity and pedestrian traffic. This is a rare chance to acquire a significant piece of commercial real estate in a thriving Michigan city, offering substantial returns for the discerning investor. The asking price is $990,000. The property is privately owned and consists of one building.

    Property Features for 0 Griffin St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,789 SF
    Class
    C
    Lot Size
    13,939 SF

    Building Details

    Year Built
    1962
    Buildings
    1
    Stories
    1

    HighLights

    • $990,000 asking price for a 4,789 SF commercial building.
    • C‑3 zoned property located in Traverse City, MI.
    • 0.32‑acre lot with one single‑story building, built in 1962.
    • Prime location near 14th St, Munson Hospital, and downtown Traverse City.
    • Suitable for redevelopment as retail or office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.620113936186
    Latitude
    44.752794625462

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    FAQs

    What type of property is this?
    Individual retail property - Prime location, 4,789 SF, redevelopment opportunity.
    Where is this individual retail property located?
    The property is located at Griffin St Traverse City, MI.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: $990,000 asking price for a 4,789 SF commercial building.; C-3 zoned property located in Traverse City, MI.; 0.32-acre lot with one single-story building, built in 1962.
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    Griffin St Traverse City, MI 49684
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Griffin St Traverse City, MI 49684
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