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Danny Dedic

info@dedicatedrealtygroup.com +1(586) 855-6672

$ 4,150,000

Est. payment | -/mo

12,870 SqFt

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$ 4,150,000

Est. payment | -/mo

Save

12,870 SqFt

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 12,870 sqft

Price per Sqft $322

Subdivision Slabtown Suites

MLS Listing ID 78080074340

Year Built 2022

Lot Size 9,583 Sqft

Acres 0.22

Property Description

Located at the corner of West Front Street and Spruce Street in Traverse CityÃ¢â‚¬â„¢s Slabtown neighborhood, this 12,000+ sq. ft. mixed-use property offers an exceptional combination of location, income, flexibility, and long-term upside. Situated on a C2 zoned lot between Munson Medical Center and downtown Traverse City, the property consists of nine individually tax-IDÃ¢â‚¬â„¢d units. The eight residential units include four 2-bedroom, 2-bath units and four 1-bedroom, 1-bath units, all of which are short-term rentable by right and license and fully furnished. The ninth unit is a first-floor commercial space that is fully leased through the end of 2028. Perhaps the most compelling aspect of this property is the number of ways it can be operated. Continue utilizing the entire building as a boutique hospitality property, operate the residential units independently as short-term rentals while maintaining a separately leased commercial space, or explore a condominium conversion and sell units individually. A combination strategy is also possibleÃ¢â‚¬"sell select residential or commercial units while retaining others as income-producing assets. The property is uniquely positioned for an investor looking beyond a traditional single-use asset. With the zoning, existing unit configuration, individual tax IDs, established short-term rental use, and commercial tenancy already in place, the next owner has the ability to shape the property around their investment strategy. And the location speaks for itself. West Front Street puts you just outside downtown proper while remaining within easy reach of Munson, the Boardman River, restaurants, retail, and everything that makes Traverse City such a sought-after market. Multiple income streams. Multiple exit strategies. One exceptional location. Inquire for detailed income information and additional property details. One or more Sellers are a licensed Real Estate Agent in the State of Michigan.

Location

State MI

County Grand Traverse

Area Area28042Traversecity

Interior

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features ParkingLot, Other

Utilities Available NaturalGasConnected

View Y/N No

Building

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Traverse City

Others

Acceptable Financing Cash, Other, Trade1031Exchange

Listing Terms Cash, Other, Trade1031Exchange

Special Listing Condition CorporateRelocation

Listed by Trent Sims of The Mitten Real Estate Group

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(586) 855-6672

info@dedicatedrealtygroup.com

902 W Front Traverse City, MI 49684

Danny Dedic

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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