3537 W Front Street Traverse City, MI 49684

Sold Co-op Member

$6,800,000

Market Estimate

5.31 Acres
Commercial
MLS# 1883370

3537 W Front Street, Traverse City, MI 49684

Listing provided courtesy of: Coldwell Banker Schmidt-402: 402 E Front Street, Traverse City, MI

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Property Details

Description

PROFESSIONAL TERRACE - For Sale - Medical Office Building Adjacent to Munson Medical Center in Traverse City. Multiple Medical Practices with Long Term Leases. Brick Building with Class A Office Finishes is 40,505 Square Feet on a 5.31 Acre Parcel Adjacent to the Regional Medical Center. Excellent Investment Opportunity with Long Term Tenants. Extensive Continual Upkeep and Remodeling Contributing to a First Class Office Building in an Excellent Location for Medical Office Use. Numerous Offices, Exam Rooms, Nurse Stations, Waiting Areas, etc. Many Major Improvements over the past 7 years!

General Features
- Licenses None
- Energy Efficient Other
- Included In Lease Electric, Exterior Maintenance, Garbage Pickup, Grounds Maintenance, Heating/Cooling, Management Fee, Other, Sewer, Snow Plowing, Water
- Business Incl No
- Business Name PROFESSIONAL TERRACE
- Type of Ownership Private Owner
- Approx Year Built 1977
- Year Remodeled 2020
- Type Office
- Town T 27N
- Township Garfield
- Present Use Medical/Dental,Office Building
Building Features
- Extras Other
- Foundation Poured Concrete
- Heating Cooling Source Mutiple Units, Natural Gas, Other
- Roof Membrane
- Heating Cooling Type Central Air
- # Restrooms 26
- Apx Total Fin SQFT 40,505
Property Features
- Water Private Well
- Vacant Land No
- Univs Design/Barrier Free Covered Entrance, Elevator, No Steps Entry, Ramped Entrance
- Road Blacktop, Public Maintained
- Sewer Municipal
- Renewable Programmable Thermostat
- Parking Parking Lot, Paved
- Parking Spaces 258
- Exterior Features Brick
- Construction Block, Brick, Steel
- Lot Dimensions IRREGULAR
- Location Office Center

Neighborhood

49684 (Traverse City) Demographics

42 Median Age

320 Population Density (per sq. mile)

51% College Educated

$63,197 Estimated Median Income

12,195 Estimated Total Home Owners

4,553 Estimated Total Renters

73% / 27% Estimated Owner / Renter Divide

2 Estimated Average Household Size

40,363 Total Population

Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$456,500 Median Sales Price

48 Homes Sold

87 New On Market

Average Days on Site

Properties for Sale

Calculations provided by Reliance Network

Property History

Date	Event	Price	Percent Change
--	New in Database Source: Multiple Listing Service	New Value: $0	-100%
2/10/2022 3:00:00 AM	Sold Source: Multiple Listing Service	New Value: $6,800,000

The data relating to real estate for sale on this web site comes in part from the Internet Data exchange ("IDX") program of Northern Great Lakes REALTORS MLS. All information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.