New Construction
Address
531 W Front Street, Traverse City, MI
Price
$ 1,825,000
Property Attributes
- MLS#1921276
- TypeLot-Land
- CountyGRAND TRAVERSE
- CityTraverse City
- AreaGrand Traverse
- NeighborhoodTraverse City
- Zip49684
- StyleVacant Lot/Land
- Price$ 1,825,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size8,276 SqFt
Data Source:
Northern Great Lakes REALTORS® MLS (NGLRMLS)
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.
| Price History | |
|---|---|
| 4/18/2024 | Listed $1,825,000 |
General Features
| Zoning | Commercial |
|---|---|
| School District | Traverse City Area Public Schools |
Exterior Features
| Water Features | None |
|---|
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Lot-Land Average in 49684
Price
Visits
Northern Great Lakes REALTORS® MLS All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
