1 of 6
Tools
Size
0.19 Acres
Exterior
Financial
$1,825,000
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Listing Details
Land
Property type
11165042
Web Id
1921276
MLS ID
41
Days Posted
Description
531 W Front Street, 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.
This is an Active listing.
Broker Office Phone Number: 231-421-1970
Copyright © 2024Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
This is an Active listing.
Broker Office Phone Number: 231-421-1970
Copyright © 2024Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Price History
date | Price | variance | type |
---|---|---|---|
4/18/2024 | $1,825,000 | - | Listed |
Listing By: The Mitten Real Estate Group via Data Source: Northern Great Lakes Realtors MLS
listing agent: Abigail Vannatter