Incredible Development Opportunity - Downtown Traverse City
Vacant Land
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30450531 |
| Property Subtypes: |
Hospitality, Multi-Family, Office, Residential (Single Family), Retail
|
| Status: |
Pending/Contingent |
| Gross Land Area: |
1 Acre
|
| Sale Price: |
$2,990,000 |
| Unit Price: |
$2,990,000 Per Acre |
| Sale Terms: |
Cash to Seller, Purchase Money Mortgage, Build-to-Suit |
| Cap Rate: |
Undisclosed |
| Last Updated: |
1/3/2021 |
Overview / Comments
|
309 W. Front Street is an incredibly unique piece of property located at a major junction of downtown Traverse City. To the east is the central business district. To the west, the West End business district and its Gourmet Alley. A stone’s throw over the river to the south is the historic Sixth Street residential neighborhood, and to the North, the trendy Warehouse District. Just beyond that, the Open Space, community beach volleyball courts and the iconic West Grand Traverse Bay - all within a short stroll. A new project was just announced on the neighboring parcel to the east, for a four story, 73,000 SF operational center for 4Front Credit Union. Between this 4Front building and the Boardman River, 309 W Front sits on 1.0 acres on the south side of Front Street. Customize your downtown TC project to this transformative piece of property, and take advantage of some sizable tax incentives as well. A project on this property has at least $1 million in available Brownfield/TIF and approximately $2.8 million in Michigan Business Tax (MBT) Credit. Contact your agent for additional details including building plans to fit the property, potential project financials, in-depth planning information, and more. Build to suit opportunities also available.
|
Additional Details
| Nearest MSA: |
Traverse City |
| County: |
Grand Traverse |
| Taxing Authority: |
Traverse City |
| Tax ID/APN: |
28-51-794-001-01 |
| Zoning: |
C-3 |
| Property Located Between: |
From Front and Cass, head West on Front for two blocks. Parcel is on South side of road between Boardman River and the under construction 4front building. |
| Property Visibility: |
Excellent |
| Legal Description: |
See associated documents - PARCEL B. |
| Largest Nearby Street: |
W Front Street |
| Feet of Frontage: |
137 |
| Development Name: |
Pine Street Development One, LLC |
| Topography: |
Gently Sloping |
| Easements: |
Ingress/Egress, Water Rights, Utilities |
| Easements Description: |
Shared Ingress/egress easement along the south property line |
| Soil Type: |
Sandy |
| Available Utilities: |
Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,742 |
29,227 |
43,934 |
| Median Age: |
40.98 |
42.23 |
42.74 |
| Households: |
2,205 |
13,387 |
19,459 |
|
© Copyright 2001-2020 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Commercial Property Information Exchange (CPIX) nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
|
