723 Lake Avenue
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.
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $595,000 |
| No. of Units: | 1 |
| Year Built: | 1970 |
| Lot Size: | 4,800.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $595,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TAAR-1949365
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