Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    123 Front St Traverse City, MI 49684
    Back to Search
    Property profile & analytics

    123 Front St Traverse City, MI 49684

    View on Map
    • Retail properties & Spaces
    • 3,520 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pacificoast / Restaurant
    • Utopia Foundation / Charitable Organization / Social Service Agency
    • Posh / Clothing & Fashion Store
    • Gourdie-Fraser, Inc. (GFA) / Civil Engineer / Business To Business Service
    • Sincerely Betty / Clothing & Fashion Store

    Property Details for 123 Front St

    Property size
    3,520 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This thriving, turnkey restaurant in downtown Traverse City, Michigan is available for $200,000. Located at 123 W Front St, near Union St, this 3,520 square foot establishment boasts a recently remodeled (2024) coastal design with new furnishings and equipment. The sale includes a valuable liquor license and all equipment, including a hood vent, tables, chairs, and other personal property. The business is offered as a sale of the business only

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6249
    Latitude
    44.7641

    Comparable in this City

    • Value Estimation by Request
      3,520 SF

      121 Un St

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,520 SF
      121 Un St, Traverse City, MI 49684-2519
      View Details
    • Value Estimation by Request
      3,680 SF

      119 Un St

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,680 SF
      119 Un St, Traverse City, MI 49684-2662
      View Details
    • Value Estimation by Request
      3,872 SF

      901 Frnt St

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,872 SF
      901 Frnt St, Traverse City, MI 49684-2397
      View Details
    • Value Estimation by Request
      3,500 SF

      120 Park St

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,500 SF
      120 Park St, Traverse City, MI 49684-2511
      View Details
    • Value Estimation by Request
      2,430 SF

      540 Frnt St

      NIGHTCLUB (COCKTAIL LOUNGE) • 2,430 SF
      540 Frnt St, Traverse City, MI 49684-2208
      View Details
    • Value Estimation by Request
      3,319 SF

      125 State St

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,319 SF
      125 State St, Traverse City, MI 49684-2512
      View Details

    Similar Nearby for Sale

    • $891,300
      2,971 SF

      Retail Condo in Downtown Traverse

      2,971 SF retail condo in prime Traverse City location.
      137 Pine St, Traverse City, MI 49684
      View Details
    • $773,400
      2,578 SF

      Retail Condo in Downtown Traverse

      2,578 SF retail condo in downtown Traverse City.
      141 W Front St, Traverse City, MI 49684
      View Details
    • $759,600
      2,532 SF

      Retail Condo in Downtown Traverse

      2,532 SF retail condo in prime Traverse City location.
      143 W Front St, Traverse City, MI 49684
      View Details
    • $2,950,000
      9,045 SF

      Iconic Wurzburg Building For Sale

      Mixed-use building in downtown Traverse City with commercial/residential zoning.
      118 E Front St, Traverse City, MI 49684
      View Details

    Similar Nearby for Lease

    • New
      $28 SF/Yr
      2,586 SF

      Downtown Traverse City Commercial Space

      First floor commercial space in the heart of downtown.
      117 Union St, Traverse City, MI 49684
      View Details
    • $24 SF/Yr
      2,971 SF

      Downtown Traverse City Retail Condo

      Retail condo in downtown Traverse City, completion scheduled for June 2026.
      137 Pine St, Traverse City, MI 49684
      View Details
    • $30 SF/Yr
      4,620 SF

      Downtown Traverse City Retail/Office Space

      Remodeled retail/office space in downtown Traverse City with parking.
      440 E Front St, Traverse City, MI 49684
      View Details
    • $24 SF/Yr
      2,532 SF

      Retail Condo in Traverse City

      Retail space for rent in downtown Traverse City, Michigan.
      143 W Front St, Traverse City, MI 49684
      View Details
    • $20 SF/Yr

      Downtown Traverse City Retail Space

      Prime retail space in downtown Traverse City with high visibility.
      161 E Front St, Traverse City, MI 49684
      View Details
    • $24 SF/Yr
      2,578 SF

      Retail Condo in Downtown Traverse

      2,578 SF retail condo in prime Traverse City location.
      141 W Front St, Traverse City, MI 49684
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    123 Front St
    Traverse City, MI 49684
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    123 Front St, Traverse City, MI, 49684
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!