123 S Union St - Freestanding FOR SALE


Traverse City, MI 49684- Downtown Traverse City
$2,950,000 USD
231-633-0432
123 S Union St, Traverse City, MI for Sale
$2,950,000 USD
Freestanding - FOR SALE
1/48
null | Request Cap Rate

123 S Union St
Traverse City, MI 49684
Downtown Traverse City


OVERVIEW

Incredible opportunity to continue the historic Wilson's Antiques business, or redevelop the building for a new use. Fantastic location in the heart of downtown between Front Street and the new Rotary Square on State Street. The building has 4 floors and 3 mezzanines, hardwood floors on the upper floors, high ceiling and original tin ceiling on the second floor. It has fire sprinklers throughout making a mixed use redevelopment a strong possibility. This would be a great location for a boutique hotel, or retail on the first floor with residential condominiums above. The business can be included for immediate cash flow and the antique store buyer. Current zoning allows for short term rentals or long term rentals. Elevator services main levels, but not mezzanines. Asking price supported by recent bank appraisal which was done for refinancing and is on the low side.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$382 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Wilson's Antiques

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Office/Residential, Department Store

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

-

APN/PARCEL ID

51-702-004-00

ASK ABOUT THIS PROPERTY

Daniel StiebelColdwell Banker Schmidt RealtorsMore Info
231-633-0432

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Daniel StiebelColdwell Banker Schmidt RealtorsMore Info
231-633-0432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.