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531 W Front Street

Traverse City, MI 49684
  • $1,690,000
  • STATUS: Active
  • ON SITE: 62 Days
  • MLS #: 1921277
UPDATED: 68 min ago
$1,690,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,592
    SQFT
  • $1,062
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2024
County:

School Ratings & Info

Description

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.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-23T18:52:22.44.
www.housestraversecity.com/homes/149668058
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531 W Front Street Traverse City, MI 49684

  • Price: $1,690,000
  • Status: Active
  • On Site: 62 Days
  • Updated: 68 min ago
  • MLS #: 1921277
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1,592
SQFT
$1,062
$/SQFT
2024
Built
Neighborhood:
None
County:
Grand Traverse
Area:
Grand Traverse
Property Description
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.
Exterior Features

Construction None Exterior Features None Foundation None Lot Dimensions 50x163 Parking None Road Public Maintained Roof None

Interior Features

Heating Cooling Type None

Property Features

Business Incl No Business Name None Deeded Waterfront No Documents On File Other Eco Features No Extras None Heating Cooling Source None Included In Lease None Inventory Incl No Licenses None Listing Agreement Type Exclusive Right to Sell Location Other Possession At Closing Present Use Restaurant/Food Service Real Estate Incl Yes Sale Or Lease For Sale Sale Rent For Sale Section Number 5 Sewer Municipal Terms Cash1031 ExchangeOther Township Traverse City Type Mixed Use Type Of Ownership Corporate Owned Univs Design Barrier Free None Vacant Land No Water Municipal Water Zoning CommercialSpecial Use

Listing information © 2024 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of The Mitten Real Estate Group: 231-421-1970.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-23T18:52:22.44.
 
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Team Dakoske | RE/MAX Bayshore
500 S. Union
Traverse City MI, 49684