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Property profile

3566 31 Traverse City, MI 49684

OFF-MARKET
Retail properties & Spaces
13,515 SF 3 ac lot Built 2001
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Property summary

AI-generated overview

This 13,515-square-foot vacant storefront, built in 2001, presents a significant retail opportunity in Traverse City, Michigan. Located in the CH Commercial District within an Opportunity Zone, this property offers potential tax credits. The building features a retail showroom, private offices, two restrooms, a conference room, and a lounge. A central storage/parts area includes seven service bays and a three-bay oil change area. The building boasts 18-foot ceilings and backs up to Kid's Creek, providing staging areas for vehicle sales. Additional features include a 1,350-square-foot basement, a 1,500-square-foot mezzanine, custom cabinetry, and a fireplace. The property sits on three acres and is situated directly in front of two hotels, offering high visibility and accessibility. The asking price is $1,950,000 ($144.28 per square foot). Land is available for sale or build-to-suit options are possible. Sale or lease options are available. The property is zoned "Other". Inquire about potential tax benefits associated with the Opportunity Zone designation.

Property profile

Verified
Property type Retail properties & Spaces
Year built 2001
Total area 13,515 SF
Lot 3 ac (130,680 SF)

Cap rate & NOI

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

Location

3566 31 Traverse City, MI 49684
Traverse City metro
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Value estimations

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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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