$1,690,000 Price Analysis   ♡   Traverse City, MI 49684 Unknown bed 0 bath unknown SqFt ($0/SqFt) 8,276SqFt lot. Listed 2024-04-18, Taxes $12,699 | Ⓧ USDA Ineligible due to property near Traverse City |
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, shred 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 determin e your comfort level with the project.
Presented by Abigail Vannatter at
The Mitten Real Estate Group.
Property MLS #1921276 from NGLRMLS
Lot Size Dimensions: 50x163
Lot Size Square Feet: 8276
Map directions Map directions Map directionsCounty: Grand Traverse
Directions: W Front St East of Division. Inbetween Nail Bar and Scarbrough Eyecare.
Ownership: Corporate Owned
Source Property Type: Vacant Lot/Land
Township: Traverse City
Zoning: Commercial
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $254,400 | $12,699 |
| 2021 | $unknown + $unknown $247,900 | $12,392 |
| 2020 | $unknown + $unknown $222,100 | $12,257 |
| 2019 | $unknown + $unknown $194,900 | $10,908 |
| 2006 | $unknown + $unknown $109,570 | $2,802 |
| 2006 | $unknown + $unknown $110,800 | $2,802 |
| 2006 | $unknown + $unknown $114,400 | $2,802 |
| 2006 | $unknown + $unknown $119,400 | $2,802 |
| 2006 | $unknown + $unknown $120,100 | $2,802 |
| 2006 | $unknown + $unknown $130,400 | $2,802 |
| 2006 | $unknown + $unknown $136,200 | $2,802 |
| 2006 | $unknown + $unknown $137,500 | $2,802 |
| 2006 | $unknown + $unknown $170,800 | $2,802 |
$1,690,000
NGLRMLS
Listed 2024-04-18
$1,825,000
NGLRMLS
Sold 2017-01-01
$260,000
Public Record
Sold 2014-01-01
$260,000
Public Record
Electric
Water Source: Municipal
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.