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Listed by REO-TCRandolph-233022
$ 500,000
Est. payment | /mo
3 Baths
1,540 SqFt
$ 500,000
Est. payment | /mo
3 Baths
1,540 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 1,540 sqft
Price per Sqft $324
MLS Listing ID 1949508
Year Built 1905
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Mixed Use
Property Description
Income-producing mixed-use investment opportunity on W. Front Street in Traverse City. This fully occupied property features three rental units, including a street-level retail storefront and two residential apartments, providing immediate income with additional long-term value-add potential. Current gross scheduled rental income is $39,600 annually. The retail space is currently leased month-to-month, while both residential units have longer-term leases in place. Located within Traverse City's C-2 Neighborhood Center District, the property offers flexibility for investors, owner-users, or purchasers interested in exploring future repositioning or redevelopment opportunities, subject to applicable municipal approvals. Convenient West Front Street location provides excellent access to downtown Traverse City and the surrounding commercial corridor. Seller financing may be available to qualified purchasers with 20% down, subject to Seller approval and mutually acceptable terms. A unique opportunity to acquire an established mixed-use property offering current cash flow, financing flexibility, and future upside.
Location
State MI
Rooms
Basement Walk-Out Access, Finished, Exterior Entry
Interior
Heating Hot Water, Natural Gas
Exterior
Waterfront Description Public
Roof Type Asphalt
Total Parking Spaces 4
Garage false
Building
Foundation Block
Sewer Public Sewer
Water Public
Nearby Locations
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Stacy Allman
Broker/Owner | Lic# 6502433438