3760 US-31 S

Price: $ 1,200,000.00
Square Ft.: 10448
Price/SQFT: $ 114.85

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.

Basic Features:

Listing # 1848704
City: Traverse City
State: MI
Zip: 49684
Area: Grand Traverse
Acres: 1.14
Square Ft: 10448

Additional Features:
Basement: Slab Location: Freestanding
Business Included: No Lot:
Business Name: N/A Miscellaneous:
Construction: Block Documents:
Zoning: Office,Retail,Commercial Possession: Negotiable,Subject to Tenants Rights
Deeded Water: No Property Status: Active U/C Taking Backups
Dimensions: Irregular Real Estate Included: Yes
Directions: Located on the east side of N US 31 S, directly across from Meijer. Remodeled:
Days On Market: 370 Road Frontage: Public Maintained
Days On MLS: 369 Roofing: Membrane
ECO Features: No For Sale Or Lease: For Sale
Extras: None For Sale Or Rent: For Sale
Financing: Special Assessment:
Floor Type: Township: Garfield
Heating/Cooling: Natural Gas Vacant: Yes
Heating/Cooling Type: Forced Air,Central Air Water:
Inventory Included: No Year Built: 1966
Licenses: None  

Listing courtesy of Three West, LLC
1131 E. Eighth Street , Traverse City , MI 49686