3760 Us-31 S
Traverse City, MI 49684

$1,200,000

Description

This parcel has 200 front feet and 1.14 acres with a curb cut on US 31 South, the busiest road in the Grand Traverse region across from the busiest Meijer store in the state. It includes 2 buildings with tenants and 5 leased storage units. The building to the south has tenants on month to month leases and the storage units are leased on a month to month basis. The other building to the north is leased until 2020 to the U.S. Veterans Administration. The real value of this property is for future development, hence the month to month leases on the south building. This property is within a designated Opportunity Zone created by the Tax Act of 2017. Opportunity Zone designation allows for deferral of capital gains taxes, reduction of capital gains taxes, or elimination of taxes on future gains within certain parameters.

Details

MLS#1848704
StyleRetail
Sub-TypeResale
StatusActive
Year1966
Days On Site197

Features

SQ Feet10,448
Story(s)1
ZoningOffice,Retail

Market Activity 49684

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Area Information

StateMI
CountyGrand Traverse
CityTraverse City
Zip Code49684
AreaGrand Traverse
Listing VS Median (in 49684)
Price:
$1,200,000
low | high
Med:
$224,900
100% of Average
SqFt:
10,448
low | high
Med:
1,850
100% of Average
$ / SqFt:
$115
low | high
Med:
$122
44.155171171171% of Average
On Site:
197
low | high
Med:
2
100% of Average
Listing Updated: 04/17/2019
MLS Number: 1848704
Listing Provided By:
Eckhoff 1200000  of  Three West LLC
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