0.19 Acres of Commercial Land for Sale in Traverse City, Michigan
531 W Front St, Traverse City, MI 49684
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.
Directions
W Front St East of Division. Inbetween Nail Bar and Scarbrough Eyecare.
Property details
- County
- Grand Traverse County
- Zoning
- Commercial
- Elevation
- 600 feet
- MLS Number
- TAAR 1921276
- Date Listed
Parcels
- 51-654-017-00
Listing history
Date | Event | Price | Change | Source |
---|---|---|---|---|
Apr 18, 2024 | New listing | $1,825,000 | — | TAAR |