531 W Front Street
Traverse City,
MI
49684
Property Details
List Price: |
$1,825,000 |
Beds: |
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Baths: |
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Status: |
Active |
SqFt: |
-- |
Agency: |
The Mitten Real Estate Group |
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Description/Comments
Lot Size: |
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Property Type: |
Lots And Land |
Year Built: |
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Notes: |
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. |
MlsNumber: |
1921276 |
Estimate Your Monthly Payment
Listing Provided By: |
The Mitten Real Estate Group, original listing |
Name: |
The Mitten Real Estate Group |
Phone: |
(231) 421-1970 |
Office Name: |
The Mitten Real Estate Group |
Office Phone: |
(231) 421-1970 |
Agent Name: |
Abigail Vannatter |
Disclaimer: |
Copyright © 2024 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |