Property Description

Located at the corner of West Front Street and Spruce Street in Traverse Cityâ??s Slabtown neighborhood, this 12,000+ sq. ft. mixed-use property offers an exceptional combination of location, income, flexibility, and long-term upside. Situated on a C2 zoned lot between Munson Medical Center and downtown Traverse City, the property consists of nine individually tax-IDâ??d units. The eight residential units include four 2-bedroom, 2-bath units and four 1-bedroom, 1-bath units, all of which are short-term rentable by right and license and fully furnished. The ninth unit is a first-floor commercial space that is fully leased through the end of 2027. Perhaps the most compelling aspect of this property is the number of ways it can be operated. Continue utilizing the entire building as a boutique hospitality property, operate the residential units independently as short-term rentals while maintaining a separately leased commercial space, or explore a condominium conversion and sell units individually. A combination strategy is also possibleâ??sell select residential or commercial units while retaining others as income-producing assets. The property is uniquely positioned for an investor looking beyond a traditional single-use asset. With the zoning, existing unit configuration, individual tax IDs, established short-term rental use, and commercial tenancy already in place, the next owner has the ability to shape the property around their investment strategy. And the location speaks for itself. West Front Street puts you just outside downtown proper while remaining within easy reach of Munson, the Boardman River, restaurants, retail, and everything that makes Traverse City such a sought-after market. Multiple income streams. Multiple exit strategies. One exceptional location. Inquire for detailed income information and additional property details. One or more Sellers are a licensed Real Estate Agent in the State of Michigan.

Property Features