Property summary
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
VerifiedCap rate & NOI
Current use
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Restaurant
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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