531 W Front Street Traverse City, MI ^$ 1,825,000

531 W Front Street

^$ 1,825,000

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531 W Front Street

Traverse City, MI, 49684

^$ 1,825,000

Studio Baths0.0 Sq 1,592

Monthly Estimate*

^$ 12,130

531 W Front Street, Traverse City, MI 49684 - Image 1

531 W Front Street, Traverse City, MI 49684 - Image 2

531 W Front Street, Traverse City, MI 49684 - Image 3

531 W Front Street, Traverse City, MI 49684 - Image 4

531 W Front Street, Traverse City, MI 49684 - Image 5

531 W Front Street, Traverse City, MI 49684 - Image 6

Studio

Commercial Property for sale in Traverse City, MI

for $1,825,000. This 1,592 square foot building was built in 2024 on a lot size of 0.19.

This is a fantastic redevelopment opportunity directly on Front Street, where the value lies in the land. It comes with engineered plans for a cutting-edge project featuring twelve luxury condos, each about 1,400 square feet. Three out of twelve units are eligible for STR. There's also 3,000 square feet of flexible commercial space on the ground floor that could be used for retail or common space for condominium owners: gym, shared workspace, lounge, etc., and a huge rooftop lounge perfect for relaxing. We've crunched the numbers and see a potential sellout value of $15 million. You'll need to wrap up some additional engineering before breaking ground. Do your own due diligence to determine your comfort level with the project.

Commercial Active

Price

^$ 1,825,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 0

Style

Commercial/Industrial

Lot Size

0.19

Year Built

2024

Town/City

Traverse City

County/Region

Grand Traverse

MLS | Web ID

80016632

Features

General

Heating None

Cooling None

Possession At Close

Water Public Water

Status Active Active

Year Built 2024

Subdivision None MI

County Grand Traverse

Class COM/IND/BUS OPP

Type Commercial/Industrial

Business Name None

Percent Ownership Corporation

Municipality Traverse City

Section 5

Zoning Commercial

Area Traverse City (28021)

Primary City Traverse City

Directions W Front St East of Division. Inbetween Nail Bar and Scarbrough Eyecare.

City Traverse City

Street Name Front

Financial Terms Cash Exchange/Trade

Legal Description LOTS 5 & 6 BLOCK 11 HANNAH LAY & CO'S 10TH ADD

DOM 36

Postal Code 49684

Price Per Sq Ft Total 1146.36

Coming Soon This is a fantastic redevelopment opportunity directly on Front Street where the value lies in the land. It comes with engineered plans for a cutting-edge project featuring twelve luxury condos

Exterior

Lot Size Area 0.19

Lot Dimensions 50x163

* Excluded Features

List By

Abigail Vannatter

Listing Agent

The Mitten Real Estate Group

Broker

abigail@themittengroup.com

Affordability Calculator

$12,130

Per Month

Monthly Principal & Interest: $12,130
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Traverse City, MI

Average List Price ^$593,417

Percent of Sale Price 67%

About Traverse City, MI

15,817 Population

7% Since 2002

^$49,237 Median Income

41.86 Median Age

21% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/18/2024	$1,825,000		Listed Price

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531 W Front Street, Traverse City, MI, 49684 is a Commercial Property for sale at $1,825,000 with 1,592 sqft and a lot size of 0.19. 531 W Front Street is a studio with 0.0 baths and was built in 2024. The property's zip code is 49684 which is in Traverse City, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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531 W Front Street

Commercial Property for sale in Traverse City, MI

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