Traverse City, MI Retail Property For Sale

If you are looking for a commercial location that is centrally located in Traverse City, in a bustling strip mall complex, close to the airport, sports venues, near multiple new housing complexes, with an average 21,000 cars passing by every day, look no further. The building is 5,133 square feet making it perfect for multiple uses including restaurant, micro brewery, amusement/recreation services, equipment rental, medical services, finance services, pet boarding/grooming, repair services and much more. Inside, you'll find a fully equipped kitchen, booths, tables, chairs, bar area, banquet space and outside patio. The sale also comes with a class C liquor license. The building has a capacity of 190 people. Schedule a tour today.

Incredible unobstructed views of Grand Traverse Bay from this prime development site on high traffic commercial cooridor with great visibility. Currently there is a 15,682 SF building on the property with 2 driveways and plenty of parking. The site is 1.5 acres. The TART trail runs along the back of the property and there is a large outdoor play structure on the property. This is a great redevelopment opportunity for retail, hospitality, restaurant, office, multi-family and more. The existing building could be used as is, split into multiple businesses, added onto, or removed. Land is zoned Commercial Corridor allowing for mixed use development. Size of existing building taken from tax record and to be confirmed by buyer.

Municipal Approved Adult-Use Provisioning Center available for sale - licenses and real estate included in the sale.

The location is fully built out; all it is missing is branding and inventory.

Freestanding building with 12 parking spaces and monument signage.

The site sits directly on heavily traveled Munson Avenue which sees approximately 27,000 vehicles per day, offering excellent brand exposure and plenty of daytime traffic.

Strong synergy in the immediate marketplace surrounded by a dense residential population and several national tenants/hotels in the tourist area of town.

Corner lot with great visibility, 128’ of frontage and pylon sign on high-traffic US 31 (25,600 vehicles per day). Nicely updated 1,650 sf retail/office building with extra parking/yard area. Building has rear storage area with sliding door for larger deliveries. Commercial General zoning allows for a variety of uses including retail, office, auto sales, personal/business services and restaurant. Located in growing retail corridor. Good redevelopment opportunity if larger building needed and municipal sewer available. Land contract available.

Great retail or office location with good visibility and easy ingress and egress from South Airport Road. Stand-alone building is comprised of 2 units that are currently being used as one 3,936 SF store, but could easily be divided back into two units. Each side has its own bathroom and access to the lower level which is comprised of storage and some finished office space. Lower level could be finished off and have its own entrance from the south parking lot if a deck/staircase was added. New roof and french drains in 2022. Located directly across from Grand Traverse Mall and has plenty of parking for customers. Neighboring uses include retail stores, beauty salon, professional services, healthcare, and retail banking. Offered well below assessor's true cash value of $1,059,400.

In Commercial Real Estate, it's all about location, location, location. There are only a few true marquee corners in a real estate market, and this is one of them. This 1.2 Acre property is located at the SW corner of E Front Street (US-31) and Garfield Road intersection. These two roads are both main feeder's that converge and funnel approx. 50,000 cars per day into Traverse City from the East and the South. Zoned C-3 Community Center District, this property has a multitude of allowable uses with a max building height of 45' and an 80% Impervious Surface maximum.

Just a few minute walk or quick bike ride to West Grand Traverse Bay or Downtown Traverse City.

INVESTMENT HIGHLIGHTS

• New 12-Year Term, Absolute NNN Lease | Rare 2.33% Annual Rent Escalations

• Strong Guaranty | Parent Company - TerrAscend Corporation - TER.CN: TRSSF

• Dominant Michigan Cannabis Operator | Gage Exclusively Operates in the State of Michigan

• Vacation Destination & Tourism | 3.3M Visitors Annually | $1.23B in Economic Activity

Property Overview:

Highly visible, 2.89 acre Parcel with 414 feet of frontage on US 31 South and 304 feet on Sundowner Drive. Large open retail building with great visibility and easy

ingress/egress on US-31. The building is 7,104 Sq Ft with additional 1,146 Sq Ft on

second level for a total of 8,250 Sq Ft. Four 14’ X14’ overhead doors in rear of building. 16’ ceiling height. Mezzanine offices overlook sales floor. Nicely remodeled. Plenty of parking with tremendous space for outside display. US 31 South had 24,758 cars per day in 2022. Currently leased to two tenants with an annual rental income of $158,244 NNN. One Tenant is leaving and the other can be moved. Ready for a new tenant or owner occupied use.