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Listed by Charlevoix Properties
$395,000
Est. payment /mo
1,770 SqFt
Active U/C Taking Backups
811 Lake Avenue Traverse City, MI 49684
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active U/C Taking Backups
Purchase Type For Sale
Square Footage 1,770 sqft
Price per Sqft $223
MLS Listing ID 1949269
Style Other
Year Built 1985
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Multi Family
Property Description
Exceptional value is evident with these three properties; they are contiguous and collectively provide an excellent investment opportunity. These properties have been used for commercial use as well as professional office and warehouses over the past several decades. 3 individual and contiguous properties all affordably priced offering several options depending on your usage. You could use these properties for your own offices, or you could use them as investment property and rent each unit individually, you could also use or rent out the 4,800 sq. ft. of storage in the large 60X80 building. Another thought is considering the need for housing in and near downtown Traverse City and zoning being R-3, this location and these properties highest and best use may very well be an excellent location for apartment buildings or a condominium location. The adjoining property on the eastern boundary is owned by MDOT and the City of Traverse City providing an expansive open area extending all the way to Boardman Lake for future generations. The walking trail is contiguous to the southern boundary for easy access for exercising and watching sunrises over Boardman Lake. Downtown Traverse City is just a short walk as well to enjoy and experience the many excellent restaurants and wonderful shopping opportunities. Collectively there is over 9,000 sq ft of warehouse, 2,275 sq ft of offices, and over 38,000 sq ft of property, that in total is just under 1 full acre! There are so many options being offered for either personal use or for an investor, any way you consider it these properties are certainly one of the better investments for this location of Traverse City.
Location
State MI
Interior
Interior Features None, WiFi
Heating Forced Air, Natural Gas
Fireplaces Type None
Fireplace false
Appliance None
Exterior
Exterior Feature None
Community Features None
Waterfront Description Public
Roof Type Membrane
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Other
Schools
Middle Schools Traverse City West Middle School
High Schools Traverse City High School
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