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531 W Front

Traverse City, MI 49684
  • $1,825,000
  • STATUS: Active
  • ON SITE: 29 Days
  • ID#: 78080016631
UPDATED: 146 min ago
$1,825,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Zoning:
Commercial
Lot Size Dimensions:
50x163

School Ratings & Info

School District:

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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IDX provided courtesy of Realcomp II Ltd. via The Home Team | EXP Realty LLC and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Home Team | EXP Realty LLC are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-05-21T16:03:14.443.
www.thehometeamexp.com/homes/149694755
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531 W Front Traverse City, MI 49684

  • Price: $1,825,000
  • Status: Active
  • On Site: 29 Days
  • Updated: 146 min ago
  • ID#: 78080016631
0
Beds
0
Baths
0
½ Baths
0.19
Acres
Neighborhood:
None
County:
Grand Traverse
Area:
Traverse City
School District:
TRAVERSE CITY
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

Lot Size Dimensions 50x163 Waterfront YN No

Property Features

Land Contract YN No Listing Financing CashTrade/Exchange Ownership Status Corporate/Relocation Possession At Close Postal City Traverse City Settlement City Sewer Public Sewer (Sewer-Sanitary) Short Sale Unknown State Equalized Value 259900.0000 Title Corporate/Relocation Transaction Type Sale Unparsed Address 531 W Front Water Source Public (Municipal) Zoning Commercial

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via The Mitten Real Estate Group: (231) 421-1970 and Aspire North REALTORS, ©2024 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via The Home Team | EXP Realty LLC and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Home Team | EXP Realty LLC are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-05-21T16:03:14.443.
 
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The Home Team | EXP Realty LLC
101 W Big Beaver Rd., Suite 1400
Troy MI, 48084