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100 E Front Street Traverse City, MI 49684
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Key Details
Sold Price $3,750,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
Square Footage 20,411 sqft
Price per Sqft $183
Subdivision Mi
MLS Listing ID 1330018
Sold Date 12/27/22
Year Built 1890
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 55x115x24x49x80x165
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.
Location
State MI
County Grand Traverse
Area Traverse City (28021)
Zoning Multi-Family,Professional Office,Commercial,Residential
Interior
Heating Forced Air
Cooling Central A/C
Exterior
Garage Parking Lot
Building
Foundation Basement
Water Public Water
Structure Type Block,Brick
Others
Ownership Private
Energy Description Natural Gas
Acceptable Financing Other
Listing Terms Other
Financing Cash,Commercial Loan,Exchange/Trade
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with Coldwell Banker Schmidt-522