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MI
Traverse City
49684
4040 Creekside Dr

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4040 Creekside Dr Traverse City, MI 49684

FOR SALE

Land

Property ID

US43-2513440

11.4 ac lot

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4040 Creekside Dr, Traverse City, MI 49684
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This exceptional 11.4-acre parcel in Traverse City, Michigan, presents a remarkable opportunity for multi-family residential development. Located at 4040 Creekside Dr, 49684, this property boasts a prime location less than two miles from downtown, offering residents convenient access to urban amenities while maintaining a tranquil setting. Zoned for residential use (APN: 0501602900), the land features scenic views and is ideally situated adjacent to the Grand Traverse YMCA, Kids Creek Park, and numerous hiking trails. Existing infrastructure includes central water and sewer access nearby, facilitating a low-density development. The property includes a small caretaker's home and a 30x30 pole barn. While creek features limit building to the front portion, preliminary site plans for a 70+ unit development are available upon request. The property is currently generating income from a long-term tenant in a single-family home on the site. Previously approved for a 77-unit development, this land offers significant potential for a high-return residential project. This is a private ownership opportunity priced at $850,000.

Property type Land

Lot 11.4 ac (496,584 SF)

UPID US43-2513440

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

4040 Creekside Dr Traverse City, MI 49684

Traverse City metro

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Comparables

6 recent transactions · within 1.5 mi

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