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Listed by Coldwell Banker Schmidt Traverse City
$2,950,000
Est. payment /mo
20,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $147
MLS Listing ID 1947396
Year Built 1900
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Retail
Property Description
Secure one of downtown Traverse City's truly irreplaceable commercial assets. This iconic approximately 20,000-square-foot building occupies a premier location between Front Street and State Street. Spanning four full stories with three mezzanine levels, it offers an architectural character rarely found in today's market. Whether your vision includes flagship retail, luxury residences, boutique hospitality, mixed-use redevelopment, or a long-term investment, the property offers exceptional flexibility to create a landmark asset in one of Northern Michigan's most desirable downtown districts. Wilson's Antiques currently occupies the building, providing immediate in-place income while preserving the flexibility to execute your long-term business plan on your own timeline. Positioned just steps from planned parking improvements and surrounded by continued investment throughout downtown Traverse City, the property is exceptionally well positioned to benefit from the city's continued growth and evolution. Fully sprinklered and served by an elevator, the building also features hardwood floors and an original tin ceiling, offering a distinctive foundation for restoration, adaptive reuse, or redevelopment. Landmark buildings cannot be replicated. With its irreplaceable location, substantial scale, historic character, and exceptional redevelopment potential, 123 S. Union Street represents a rare opportunity to establish a lasting presence in one of Michigan's premier downtown markets.
Location
State MI
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Exterior
Waterfront Description Public
Roof Type Membrane
Garage false
Building
Sewer Public Sewer
Water Public
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456