Property profile

0 Zimmerman Rd Traverse City, MI 49685

OFF-MARKET
Land
21.79 ac lot
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Property summary

AI-generated overview

This exceptional 21.79-acre parcel in Traverse City, Michigan, presents a unique development opportunity. Located on Zimmerman Rd, with additional access points from Herkner Rd and potential access from N Long Lake Rd, this corporate-owned property (APN: Multiple) is ideally situated on the west side of Traverse City, offering proximity to downtown amenities and the Munson Medical Center. Currently configured as 33 single-family site condo lots, the existing condo documents allow for the creation of separate parcels, providing flexibility for development. Neighboring developments include The Cottages single-family community and the new Meadow Valley senior living community to the north. West Senior High School is conveniently located across N Long Lake Rd, with Long Lake Elementary and West Middle School also nearby. Infrastructure is largely in place, with completed sidewalks and walking paths. All utilities, including municipal water and sewer, are readily available. This property is perfect for builders or investors seeking to establish a single-family home rental community or develop individual homes in a highly desirable location. The asking price is $849,000.

Property profile

Verified
Property type Land
Lot 21.79 ac (949,172 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Zimmerman Rd Traverse City, MI 49685
Traverse City metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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