Property profile

1054 Front St Traverse City, MI 49686

OFF-MARKET
Land
1.24 ac lot
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Property summary

AI-generated overview

This exceptional 1.24-acre commercial land parcel presents a significant redevelopment opportunity in Traverse City, Michigan. Located at the southwest corner of East Front Street (US-31) and Garfield Road, this property boasts a highly visible location with exceptional daily traffic volume exceeding 40,000 vehicles. The site is zoned C-3 Community Center District, allowing for a multitude of uses, with a maximum building height of 45 feet and an 80% impervious surface maximum. The property includes two existing buildings: a 3,726 square foot structure built in 2001 on approximately one acre, and a 728 square foot building constructed in 1976 and remodeled in 1994, situated on 0.24 acres. The combined parcel features a total area of 1.24 acres and is currently vacant, offering a blank canvas for a diverse range of development projects. Its proximity to West Grand Traverse Bay and downtown Traverse City further enhances its desirability. The property's APN is 28-51-558-004-00, 002-00. The asking price is $2,850,000. This is a rare opportunity to acquire a prime commercial property in a thriving Michigan location. The property is privately owned and is classified as Class B.

Property profile

Verified
Property type Land
Lot 1.24 ac (54,014 SF)

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Restaurant

Location

1054 Front St Traverse City, MI 49686
Traverse City metro
Google Maps

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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