Thank you
Abigail Vannatter
The Mitten Real Estate Group
231-421-1970
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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Sewer: Public Sewer (Sewer-Sanitary)
Public (Municipal)
Lot Size: 0.19
Lot Dimensions: 50x163
Subdivision: None
Financing: Cash,Trade/Exchange
Original List Price: $1,825,000
Possession: At Close
Legal Description: LOTS 5 & 6 BLOCK 11 HANNAH LAY & CO'S 10TH ADD
Parcel Number: 5165401700
At Close
Legal Description: Section: LOTS 5 & 6 BLOCK 11 HANNAH LAY & CO'S 10TH ADD
School District: Traverse City
Water:Public (Municipal)
Sewer:Public Sewer (Sewer-Sanitary)
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
145 E Eighth , Traverse City, MI,49684 | $320,000 | 1 | 1 | 735 | -- |
12848/1286 S West Bay S.., Traverse City, MI,49684 | $999,000 | 2 | 2.5 | 1,567 | -- |
12848/1286 S West Bay S.., Traverse City, MI,49684 | $999,000 | 2 | 2.5 | 1,567 | -- |
3921 W S Airport , Traverse City, MI,49684 | $425,000 | 2 | 1.5 | 1,280 | 8 Acres |
13801 Celestial , Traverse City, MI,49684 | $319,000 | -- | -- | -- | 0.14 Acre |
13817 Celestial , Traverse City, MI,49684 | $299,000 | -- | -- | -- | 0.16 Acre |
13809 Celestial , Traverse City, MI,49684 | $299,000 | -- | -- | -- | 0.14 Acre |
13888 S Meridian , Traverse City, MI,49684 | $139,000 | -- | -- | -- | 0.11 Acre |
13892 S Meridian , Traverse City, MI,49684 | $139,000 | -- | -- | -- | 0.15 Acre |
00000 Orchard , Traverse City, MI,49684 | $35,000 | -- | -- | -- | 0.41 Acre |
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ByOwner last updated this listing 05/04/2024 @ 12:27
MLS: 605848313
LISTED BY: Abigail Vannatter , The Mitten Real Estate Group
SOURCE: Realcomp II Ltd
Buyer Agency Description: 2.5%