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 $1,825,000
County: Grand Traverse
Zoning: Commercial
Area: Grand Traverse
Waterfront Feet: 0
Association:
Lake/River:
School District:
Lot Size: 50x163
County: Traverse City
Road: Public Maintained
Acres: 0.19
Features: Other
Water Features: None
Listing Provided Courtesy of:
The Mitten Real Estate Group
