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    1040 Front St Traverse City, MI 49686

    Sponsored
    For Sale
    $1,299,000

    Prime US-31 location, 0.63 acres, high visibility.

    Property size:
    1,864 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional redevelopment opportunity presents 0.63 acres of prime commercial land situated on US-31 in Traverse City, Michigan. The property boasts a high-traffic, high-visibility location at the gateway to downtown, a highly desirable area known for its stunning natural beauty, vibrant culinary scene, and thriving tourism industry. The site comprises three separate parcels: two vacant lots and one with an existing single-story, 1,864 square foot office building constructed in 1981. This building currently contains one unit and is zoned HR. The asking price is $1,299,000, translating to $696.89 per square foot. US-31, the main East-West corridor through the Grand Traverse region, ensures exceptional exposure and accessibility. This presents a unique chance to capitalize on the area's robust economy and strong demand for commercial development. An adjacent 1.25-acre parcel is also available for purchase, offering the potential for a significantly larger development project. The property's APN is 28-51-558-004-10, 005-00, 006-00. This is a private owner offering. A virtual tour is available online. Don't miss this chance to build your vision in a thriving Michigan community.

    Property Features for 1040 Front St

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,864 SF
    Lot Size
    27,443 SF

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 0.63‑acre commercial parcel located on US‑31 in Traverse City, MI.
    • Large redevelopment opportunity encompassing three lots: two vacant and one with an existing office building.
    • High‑traffic, high‑visibility location on US‑31, a major East‑West corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.5967613
    Latitude
    44.7638786

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    FAQs

    What type of property is this?
    Individual retail property - Prime US-31 location, 0.63 acres, high visibility.
    Where is this individual retail property located?
    The property is located at 1040 Front St Traverse City, MI.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: 0.63-acre commercial parcel located on US-31 in Traverse City, MI.; Large redevelopment opportunity encompassing three lots: two vacant and one with an existing office building.; High-traffic, high-visibility location on US-31, a major East-West corridor.
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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
    1040 Front St Traverse City, MI 49686
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