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100 E Front Street

Traverse City, MI 49684
  • $4,000,000
  • STATUS: Active Under Contract
  • ON SITE: 48 Days
  • MLS #: 1901770
Under Contract
UPDATED: 49 min ago
$4,000,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 20,411
    SQFT
  • $196
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1890
County:

School Ratings & Info

Description

Iconic Building in the heart of downtown Traverse City. Location does not get any better than the corner of East Front Street & Union Street. Building is approx. 20,000 SF (7,000 SF ground floor, 6,500 SF 2nd & 3rd floors, 400 SF 4th floor) with a full 6,500 SF basement. Property has been in the same family for over 50 years and lease rates are far below market rates. Short lease terms gives the buyer an opportunity to capture current market rents for highly sought after retail and office space or redevelop the property and use the 2nd, 3rd & 4th floors for residential condos or Air B&B units. Large windows and lots of light make redevelopment very desirable. Building already has fire sprinklers installed. There are 13 parking spaces in the rear of the building.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-08-16T19:52:10.503.
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100 E Front Street Traverse City, MI 49684

  • Price: $4,000,000
  • Status: Active Under Contract
  • On Site: 48 Days
  • Updated: 49 min ago
  • MLS #: 1901770
0
Beds
0
Baths
0
½ Baths
0.25
Acres
20,411
SQFT
$196
$/SQFT
1890
Built
Neighborhood:
Masonic Building
County:
Grand Traverse
Area:
Grand Traverse
Property Description
Iconic Building in the heart of downtown Traverse City. Location does not get any better than the corner of East Front Street & Union Street. Building is approx. 20,000 SF (7,000 SF ground floor, 6,500 SF 2nd & 3rd floors, 400 SF 4th floor) with a full 6,500 SF basement. Property has been in the same family for over 50 years and lease rates are far below market rates. Short lease terms gives the buyer an opportunity to capture current market rents for highly sought after retail and office space or redevelop the property and use the 2nd, 3rd & 4th floors for residential condos or Air B&B units. Large windows and lots of light make redevelopment very desirable. Building already has fire sprinklers installed. There are 13 parking spaces in the rear of the building.
Exterior Features

Construction BlockBrick Exterior Features Brick Foundation FullUnfinished Lot Dimensions 55X115x24x49x80x165 Parking AssignedParking LotStreet Parking Road BlacktopPublic Maintained Roof Membrane

Interior Features

Heating Cooling Type Central AirForced Air

Property Features

Business Incl No Business Name Multiple Deeded Waterfront No Documents On File FinancialLeases Eco Features No Extras ElevatorSprinkler System Heating Cooling Source Natural Gas Included In Lease Building InsuranceExterior MaintenanceGarbage PickupGrounds MaintenanceHeating/CoolingManagement FeeSewerSnow PlowingTaxWater Inventory Incl No Licenses None Listing Agreement Type Exclusive Right To Sell Location Corner LotFreestanding Possession At ClosingNegotiableSubject To Tenants Rights Present Use Office BuildingRetail Store Real Estate Incl Yes Sale Or Lease For Sale Sale Rent For Sale Section Number 3 Sewer Municipal Terms 1031 ExchangeCashCommercial Loan Township Traverse City Type Income Type Of Ownership Private Owner Univs Design Barrier Free ElevatorExtra Wide HallwaysNo Steps Entry Vacant Land No Water Municipal Water Year Remodeled 1987 Zoning CommercialMotel/HotelMulti-FamilyOfficeResidentialRestaurant/FoodRetail

Listing information © 2022 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Coldwell Banker Schmidt-522: 231-929-2300.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-08-16T19:52:10.503.
 
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Team Dakoske | RE/MAX Bayshore
500 S. Union
Traverse City MI, 49684