314 Munson AveTraverse City, MI 49686

Property Details for 314 Munson Ave

Year built

1974

Lot size

0.22 AC

Property size (Sq ft)

1,721 SF

Property type

Office properties

Property subtype

Office buildings

APN

51-582-093-00

APU

5158209300

Description

This turnkey retail storefront, located at 314 Munson Avenue in Traverse City, Michigan (49686), presents a unique investment opportunity. Priced at $995,000, this 2,759 square foot building is fully equipped for operation as an adult-use cannabis provisioning center, with all necessary licenses included in the sale. The property boasts a prime location on Munson Avenue, a high-traffic thoroughfare with approximately 27,000 vehicles passing daily, ensuring excellent brand visibility. The freestanding building features 12 on-site parking spaces and prominent monument signage, enhancing accessibility and brand recognition. The interior is completely built-out, ready for immediate occupancy; only branding and inventory are needed to commence operations. This location benefits from strong synergy within the marketplace, surrounded by a dense residential population and several national hotel chains, capitalizing on the area's tourism. The property's APN is 5158209300. This is a rare opportunity to acquire a fully licensed and operational cannabis retail space in a high-demand location. The price per square foot is $360.64. The property is currently vacant. Grand Traverse County is the county location.

• CAP approach

  CAP return

  Valuation

  6%

  $314,328

  6.5%

  $290,149

  7%

  $269,424

• Comparable approach

  Method

  Valuation

  Relative Method

  $224,160

  Geo Method

  $224,160

• Alternative Use

  Use

  Valuation

  Residential

  $359,785

  Hospitality

  $329,561

  Educational

  $274,191

  Medical

  $283,621

  Retail

  $426,520

Location Insight

City

Traverse City

County

Grand Traverse

State

Michigan

Latitude

44.7618

Longitude

-85.5849

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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