Traverse City, MI Restaurants for Sale

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Updated: Dec 11, 2024

Brewery Development Parcel with C4-C Zoning

120 Park Street, Traverse City, MI 49684

$1,350,000

3,500 sqft 0.17 AC lot

0.17‑acre development parcel in Downtown Traverse City zoned C4‑C for maximum height and density
C4‑C zoning with minimum setbacks and no parking required
Building lot is 7,392 sq.ft. and property listed at 3,500 sq.ft.
Existing micro brewery setup includes hoods, vents, and a walk‑in cooler
Block construction with steel elements and a membrane roof

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This listing looks promising.

Here's a quick look at some key insights for

120 Park Street, Traverse City, MI 49684

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Est. Cap Rate

3.5%
NOI ÷ price
Est. NOI

$47K
Annual
Price @ 7% Cap

$668K
Suggested
Property Type

Nightclub
Built 1956

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Updated: May 26

Entertainment Property in Cherryland Center

1212 W South Airport Rd, Traverse City, MI 49686

$7,500,000

101,386 sqft

High‑visibility commercial property in Cherryland Center at the corner of Garfield Avenue and South Airport Road.
Proven, year‑round entertainment concept currently operating as K1 Speed Traverse City with indoor electric go‑kart track.
Includes an extensive arcade, the Paddock Lounge restaurant and bar, and dedicated areas for private parties and corporate events.
Building designed for high‑capacity operations and flexible commercial use with 20‑foot ceilings.
Infrastructure features multiple semi and shop bays with various overhead doors for efficient access and adaptability.

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Indoor Go-Kart Racing Facility

C-1212 W South Airport Rd, Traverse City, MI 49686

$2,500,000

61,502 sqft

Turnkey indoor go-kart racing operation with electric karts, arcade, and Paddock Lounge restaurant and bar.

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Freestanding KFC Net Lease

311 US Highway 31 S, Traverse City, MI 49685

Contact for pricing

3,179 sqft 1.96 AC lot

Freestanding KFC on a 1.96-acre parcel along US-31, secured by a 20-year triple net lease.

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Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Restaurant Suite

124 COCHLIN ST, Traverse City, MI 49686

Contact for pricing

550 sqft

Suite B at 124 Cochlin Street is positioned for restaurant or takeout use.

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Historic Storefront with Wood Bar

117 Union Street, Traverse City, MI 49684

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2,586 sqft

First-floor commercial space with exposed brick, tall ceilings, and flexible retail or office potential.

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Historic Multi-Patio Restaurant & Bar

423 S Union St, Traverse City, MI 49684

$2,400,000

Restaurant and bar space with seating for 200-plus, fully equipped commercial kitchen, and multiple outdoor patios.

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Lower-Level Retail Space

161 Front Street, Traverse City, MI 49684

Contact for pricing

4,240 sqft

Lower-level commercial space includes separate entry points from Front Street and the Boardman River side.

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Downtown Development Parcel with Building

120 Park St, Traverse City, MI 49684

$1,350,000

3,500 sqft 0.17 AC lot

C4-C zoned parcel includes a prior micro brewery setup with kitchen exhaust components and a compact site plan.

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Historic Mixed-Use Building Near West Bay

601 Randolph St, Traverse City, MI 49684

$1,400,000

Unique mixed-use property in prime location near shopping and dining.

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Corner Office and Restaurant Building

12930 S West Bay Shore Dr, Traverse City, MI 49684

$1,695,000

Fully furnished corner building with a renovated restaurant main floor and multi-office occupancy upstairs.

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Mixed-Use Redevelopment with Drive-Thru

114 W Griffin St, Traverse City, MI 49684

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4,789 sqft 0.32 AC lot

C-3 zoned mixed-use redevelopment site with a block building and drive-thru restaurant potential.

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Triple Net Restaurant Portfolio

1544 US-31, Traverse City, MI 49686

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Three-unit restaurant portfolio offered on a master lease structure with NNN responsibilities and 7+ years remaining.

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Riverfront Retail and Office

447/449 E Front Street, Traverse City, MI 49686

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Front Street building with Boardman River frontage and mooring space for up to two boats.

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Pizza Hut NNN Leasehold

3050 N US Highway 31 S, Traverse City, MI 49684

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For sale Pizza Hut property offered with an absolute net long-term lease and zero landlord responsibilities.

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 15 Active listings in Traverse City, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 57 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Nightclub with Liquor License

4621 Rapid City Road NW, Rapid City, MI 49676

$879,000

3,456 sqft 0.55 AC lot

Operating adult entertainment venue with a full basement, parking lot, and adaptable space for hospitality or event use.

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Nightclub with Full Basement

4621 RAPID CITY RD, Rapid City, MI 49676

$879,000

3,456 sqft

Operating entertainment venue with liquor license, flexible gathering space, and asphalt-paved exterior areas in Rapid City.

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Remodeled Restaurant Building in Elk Rapids

151 River Street, Elk Rapids, MI 49629

$1,174,000

5,580 sqft 0.18 AC lot

Turn-key restaurant with outdoor dining in desirable downtown market.

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Turn-Key Restaurant with Patio

151 River Street Unit SourceFi, Elk Rapids, MI 49629

Contact for pricing

5,580 sqft

Recently remodeled single-tenant restaurant with a commercial kitchen and outdoor patio seating.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Commercial Development Land Parcel

1026-1028 E Front Street, Traverse City, MI 49686

$399,000

0.38 AC lot

Zoned commercial parcel with two separate lots, positioned along a major east-west corridor for flexible development planning.

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Commercial Land with Existing Office

1040 E Front Street, Traverse City, MI 49686

$1,148,000

1,864 sqft 0.63 AC lot

0.63-acre parcel with three lots, including an existing office building and two vacant lots on US-31.

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Commercial Land with Existing Office Building

1040 E Front Street, Traverse City, MI 49686

$1,148,000

0.63 AC lot

Three-lot commercial parcel with an existing office building, positioned on US-31 for flexible development planning.

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Corner Commercial Development Land

1054-1060 E Front Street, Traverse City, MI 49686

$2,650,000

3,726 sqft 1.24 AC lot

C-3 zoned corner parcel at a major US-31 and Garfield Road intersection with flexible development parameters.

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Off-Market Properties in Traverse City, MI

Consider similar Off-Market properties in Traverse City, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

RESTAURANT

129 Un St, Traverse City, MI 49684-2519

$225,000

Estimated value

3,120 sqft 0.06 AC lot

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RESTAURANT

1500 Us Hwy 31st N, Traverse City, MI 49686-3740

$280,000

Estimated value

3,689 sqft 0.88 AC lot

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RESTAURANT

1238 Garfield Ave, Traverse City, MI 49686-4331

Value Estimation by Request

3,815 sqft 0.66 AC lot

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Restaurants

123 Front St, Traverse City, MI 49684

Value Estimation by Request

3,520 sqft

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DRIVE-THRU RESTAURANT, FAST FOOD

1249 Woodmere Ave, Traverse City, MI 49686-4249

$335,000

Estimated value

5,984 sqft 0.47 AC lot

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RESTAURANT

115 Wellington St, Traverse City, MI 49686-2666

$260,000

Estimated value

1,784 sqft 0.09 AC lot

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DRIVE-THRU RESTAURANT, FAST FOOD

2504 Us Hwy 31st N, Traverse City, MI 49686-3761

$550,000

Estimated value

5,839 sqft 1.24 AC lot

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DRIVE-THRU RESTAURANT, FAST FOOD

2700 Us Hwy 31st S, Traverse City, MI 49684-4527

$3,070,000

Estimated value

5,210 sqft 2.11 AC lot

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RESTAURANT

2455 Us Hwy 31st S, Traverse City, MI 49684-4520

$540,000

Estimated value

7,309 sqft 4.61 AC lot

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Traverse City, MI Restaurants Market Trends and Statistics

Explore 72 restaurants for sale in Traverse City, MI, showcased through 15 active listings on our real estate platform. These investment opportunities span a total of 185,232 square feet of properties for sale, with an estimated market value of $18,195,000.

Sale prices for restaurant properties in Traverse City, MI start at $1,350,000, averaging $2,599,285, and reaching up to $7,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 78K

Population Growth (5Y) -35.5%

Median Household Income $78,889

College Educated 59.4%

High-Yield Neighborhoods for Investment

Identify Traverse City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
49684	$1.5M
49696	$3.5M
49686	$3.6M

Taxes & Financing

Tax Rate (average for all types) 4.34%

Property Tax per SF $71.64 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Grand Traverse County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Grand Traverse County

Office

Property Size Breakdown

The majority of commercial real estate listings in Traverse City fall within the 2,500 to 5,000 square foot range.

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Traverse City, MI Restaurants for Sale

120 Park Street, Traverse City, MI 49684

1212 W South Airport Rd, Traverse City, MI 49686

C-1212 W South Airport Rd, Traverse City, MI 49686

311 US Highway 31 S, Traverse City, MI 49685

124 COCHLIN ST, Traverse City, MI 49686

117 Union Street, Traverse City, MI 49684

423 S Union St, Traverse City, MI 49684

161 Front Street, Traverse City, MI 49684

120 Park St, Traverse City, MI 49684

601 Randolph St, Traverse City, MI 49684

12930 S West Bay Shore Dr, Traverse City, MI 49684

114 W Griffin St, Traverse City, MI 49684

1544 US-31, Traverse City, MI 49686

447/449 E Front Street, Traverse City, MI 49686

3050 N US Highway 31 S, Traverse City, MI 49684

Opportunities in Nearby Cities

4621 Rapid City Road NW, Rapid City, MI 49676

4621 RAPID CITY RD, Rapid City, MI 49676

151 River Street, Elk Rapids, MI 49629

151 River Street Unit SourceFi, Elk Rapids, MI 49629

Potential Development Sites for Consideration

1026-1028 E Front Street, Traverse City, MI 49686

1040 E Front Street, Traverse City, MI 49686

1040 E Front Street, Traverse City, MI 49686

1054-1060 E Front Street, Traverse City, MI 49686

Off-Market Properties in Traverse City, MI

129 Un St, Traverse City, MI 49684-2519

1500 Us Hwy 31st N, Traverse City, MI 49686-3740

1238 Garfield Ave, Traverse City, MI 49686-4331

123 Front St, Traverse City, MI 49684

1249 Woodmere Ave, Traverse City, MI 49686-4249

115 Wellington St, Traverse City, MI 49686-2666

2504 Us Hwy 31st N, Traverse City, MI 49686-3761

2700 Us Hwy 31st S, Traverse City, MI 49684-4527

2455 Us Hwy 31st S, Traverse City, MI 49684-4520

Traverse City, MI Restaurants Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Office

Property Size Breakdown

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