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123 S Union St
Traverse City, MI 49684
Retail Property For Sale
Investment Highlights
- Located in the central business district of Traverse City with excellent pedestrian and vehicular traffic.
- Convenient connectivity to US-31, M-72, and Grandview Parkway for easy regional access.
- Established mix of professional offices and retail enhancing foot traffic and visibility.
- Surrounded by popular dining, shopping, and cultural attractions within walking distance
- Strong consumer demographics with projected growth and high household income levels.
- In proximity to Clinch Park, waterfront amenities, and seasonal tourism destinations.
Executive Summary
Positioned in the heart of Downtown Traverse City, 123 S Union Street presents a unique investment opportunity in one of Northern Michigan’s most vibrant commercial corridors. The property benefits from steady growth trends driven by the area’s upscale residential base, thriving tourism industry, and high-income demographics. Surrounding businesses include popular restaurants, boutiques, and service retailers, ensuring consistent pedestrian traffic throughout the year.
With average household income exceeding $140,000 and projections for continued economic strength, this asset is poised for long-term appreciation and stable revenue streams. The property’s downtown location provides walkable access to Clinch Park, waterfront attractions, and proximity to key arterials, including Grandview Parkway and US-31, offering strong connectivity. This is an excellent opportunity for investors seeking a well-located property within a dynamic market supported by retail, professional services, and a growing visitor economy.
With average household income exceeding $140,000 and projections for continued economic strength, this asset is poised for long-term appreciation and stable revenue streams. The property’s downtown location provides walkable access to Clinch Park, waterfront attractions, and proximity to key arterials, including Grandview Parkway and US-31, offering strong connectivity. This is an excellent opportunity for investors seeking a well-located property within a dynamic market supported by retail, professional services, and a growing visitor economy.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,000 SF
Building Class
C
Year Built
1900
Price
$4,150,650 CAD
Price Per SF
$207.53 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.55
Lot Size
0.18 AC
Zoning
Commercial - Commercial Zoned District
Frontage
Amenities
- Mezzanine
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 51-702-004-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,534,429 CAD |
Property Taxes
Parcel Number
51-702-004-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,534,429 CAD
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