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$600,000
1,300 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 1,300 sqft
MLS Listing ID 78080066306
Style Duplex,Ranch
Year Built 1960
Lot Size 4.690 Acres
Acres 4.69
Property Sub-Type MultiFamily
Property Description
Exceptional Investment & Development Opportunity. This highly versatile property offers immediate income with outstanding future potential. Currently operating as a grandfathered residential duplex, the property features reliable long-term tenants and strong rental income, making it an ideal holding investment. Both units have their own washer and dryer. The main floor unit is a 3 bedroom, 1 bath bringing in $2,250/month and the lower unit is a 2 bedroom, 1 bath bringing in $1,500/month. Zoned Light Industrial/Warehouse, the property boasts excellent visibility and expansive frontage on M-72, opening the door to a wide variety of commercial uses. Permitted uses include, but are not limited to: Live/Work Units, Computing & Data Processing Centers, Dealerships, Suppliers, Veterinary Clinics, Greenhouses or Nurseries, Food Production Facilities, Warehousing & Wholesale Operations, Self-Storage Facilities, And many additional commercial possibilities. The site also presents a unique opportunity for renewable energy development. With a special use permit, the property could be ideal for a solar installation, thanks to its flat, cleared, and well-drained land and close proximity to an electrical substation. The parcel also offers strong development flexibility, with the potential for multiple access and exit points via existing easements, improving site circulation and making the property well suited for larger-scale commercial operations. Adding to its appeal, this expansive parcel is located less than one mile from Flintfields Horse Park, home of the internationally recognized Traverse City Horse Shows, bringing significant seasonal activity and economic energy to the area. With existing rental income covering carrying costs, investors have the flexibility to generate cash flow today while planning and developing future commercial or industrial uses on this exceptional piece of acreage.
Location
State MI
County Grand Traverse
Area Area28021Acmetwp
Rooms
Basement Daylight, Finished, Full, Walk Out Access
Interior
Heating Forced Air, Propane
Fireplace No
Exterior
Parking Features Detached, Garage
View Y/N No
Building
Foundation Basement
Sewer Septic Tank
Water Well
New Construction No
Schools
School District Traverse City
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Listed by Carly Tunison of Century 21 Northland
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