531 W Front Street, Traverse City, Michigan, United States

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Home For Sale

$1,690,000

531 W Front Street
Traverse City, Michigan, United States

1,592 sqft

Listed By: The Real Estate Book

Listed On: 05/19/2025

Listing ID: GL11116956 View More Details

Description

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.