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    $3,728,820

  • Sold In House 8/28/18 | MLS#: 1836917
  • 0.60Acre

102 W Front Street Traverse City, MI 49684

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Listing provided courtesy of: Coldwell Banker Schmidt-522, 522 E Front St, Traverse City, MI

Overview

Great value add investment for this iconic Traverse City landmark on Front Street in downtown. Fifth Third Bank will lease back the first floor, third floor and part of the basement for a 10-year lease. They have just dropped the asking price by $1,600,000 to reflect a lower sale-leaseback rate that is now desired by the bank. With full occupancy, the pro-forma cap rate will be 7.3%. There are 3 other tenants in the building and approximately 35% is vacant and available for lease. The building has four floors, a mezzanine and a full basement. The site is 0.6 acres and has 36 parking spaces on site. The building has incredible views in every direction, overlooking Grand Traverse Bay, the Boardman River and downtown Traverse City. The building is over 100' tall and was built by lumber baron Perry Hannah, the 'father' of Traverse City, and was designed by his son, Julius. The building's hallmark is the clock tower which has four clock faces that are five feet in diameter each. This is an investment opportunity of a lifetime!

General Features

  • Included In Lease Other
  • Business Incl No
  • Business Name Fifth Third Bank
  • Type of Ownership Corporate Owned
  • Approx Year Built 1903
  • Year Remodeled 2012
  • Type Mixed Use
  • Town T 27N
  • Township Traverse City
  • Present Use Medical/Dental,Office Building,Retail Store

Building Features

  • Extras Security System, 14ft Ceiling Height
  • Foundation Full
  • Heating Cooling Source Natural Gas
  • Roof Asphalt, Membrane
  • Heating Cooling Type Forced Air, Central Air
  • Apx Total Fin SQFT 29,383

Property Features

  • Water Municipal Water
  • Vacant Land No
  • Univs Design/Barrier Free Elevator
  • Road Public Maintained, Blacktop
  • Sewer Municipal
  • Parking Off Site, Parking Lot, Street Parking
  • Exterior Features Brick
  • Construction Brick
  • Lot Dimensions 139 x 188
  • Location Corner Lot, Freestanding

Listing agent photo

James Eberle

231-313-8804RE/MAX of Elk Rapids

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Days on Market

  • This property was listed on the market for 24 days

Location

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Listing agent photo

James Eberle

231-313-8804RE/MAX of Elk Rapids

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Community Demographics for Zip Code 49684 (Traverse City)

Housing Occupancy
  • Home Owners: 12,898 (64%)
  • Renters: 4,676 (23%)
  • Vacant: 2,451 (12%)
  • Total Housing Units: 20,025
Households
  • Average Household Size: 2.37
  • Housing Density (People per square mile): 420
Age Range (number of people)
  • Age 0-14: 7,547
  • Age 15-24: 5,107
  • Age 25-39: 7,710
  • Age 40-59: 10,497
  • Age 60-79: 8,801
  • Age 80+: 2,687
  • Total: 42,349

* All numbers in this section are 2016 projections provided by Geolytics Inc

School Information for 49684 (Traverse City)

Public Schools in Zip Code 49684 (Traverse City)

* This list of schools may not match the property above.

WEST SENIOR HIGH 5376 NORTH LONG LAKE RD TRAVERSE CITY, MI 49684 Phone: 2319337500 9th-12th
Grade Size Distribution
  • 9th: 446
  • 10th: 435
  • 11th: 487
  • 12th: 491
School Population
  • Teachers: 92
  • Students per Teacher: 20.2
  • Students: 1859
  • Male/Female: 975/884
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
WEST MIDDLE SCHOOL 3950 SILVER LAKE RD TRAVERSE CITY, MI 49684 Phone: 2319338200 6th-9th
Grade Size Distribution
  • 6th: 400
  • 7th: 396
  • 8th: 416
  • 9th: 2
School Population
  • Teachers: 69
  • Students per Teacher: 17.6
  • Students: 1214
  • Male/Female: 610/604
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
NEW CAMPUS CENTER 1100 SILVER DR TRAVERSE CITY, MI 49684 Phone: 2319226375 2nd-12th
Grade Size Distribution
  • 2nd: 2
  • 3rd: 5
  • 4th: 6
  • 5th: 9
  • 6th: 10
  • 7th: 5
  • 8th: 8
  • 9th: 8
  • 10th: 1
  • 11th: 16
  • 12th: 4
School Population
  • Teachers: 9
  • Students per Teacher: 10.3
  • Students: 93
  • Male/Female: 68/21
School District
  • TRAVERSE BAY AREA ISD
  • 1101 RED DR TRAVERSE CITY, MI 49696
  • Phone: 2319226200
District Population
  • Schools: 10
  • Full-Time Teachers: 158
  • Students per Teacher: 3.3
  • Staff: 552
  • Students: 334
BLAIR ELEMENTARY SCHOOL 1625 SAWYER RD TRAVERSE CITY, MI 49684 Phone: 2319335700 K-5th
Grade Size Distribution
  • Knd: 54
  • 1st: 48
  • 2nd: 50
  • 3rd: 54
  • 4th: 45
  • 5th: 41
School Population
  • Teachers: 18
  • Students per Teacher: 17.2
  • Students: 310
  • Male/Female: 159/151
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
CENTRAL GRADE SCHOOL 301 WEST 7TH ST TRAVERSE CITY, MI 49684 Phone: 2319335600 K-5th
Grade Size Distribution
  • Knd: 83
  • 1st: 93
  • 2nd: 80
  • 3rd: 101
  • 4th: 107
  • 5th: 116
School Population
  • Teachers: 31
  • Students per Teacher: 18.7
  • Students: 580
  • Male/Female: 299/281
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
LONG LAKE ELEMENTARY SCHOOL 7738 NORTH LONG LAKE RD TRAVERSE CITY, MI 49684 Phone: 2319337800 K-5th
Grade Size Distribution
  • Knd: 57
  • 1st: 43
  • 2nd: 39
  • 3rd: 42
  • 4th: 51
  • 5th: 56
School Population
  • Teachers: 16
  • Students per Teacher: 19.1
  • Students: 305
  • Male/Female: 156/149
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
SILVER LAKE ELEMENTARY SCHOOL 5858 CULVER RD TRAVERSE CITY, MI 49684 Phone: 2319335760 K-6th
Grade Size Distribution
  • Knd: 46
  • 1st: 44
  • 2nd: 57
  • 3rd: 49
  • 4th: 41
  • 5th: 45
  • 6th: 1
School Population
  • Teachers: 16
  • Students per Teacher: 17.7
  • Students: 283
  • Male/Female: 149/134
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
TCAPS MONTESSORI SCHOOL 301 WEST 7TH ST TRAVERSE CITY, MI 49684 Phone: 2319335608 K-6th
Grade Size Distribution
  • Knd: 72
  • 1st: 55
  • 2nd: 67
  • 3rd: 47
  • 4th: 46
  • 5th: 31
  • 6th: 10
School Population
  • Teachers: 18
  • Students per Teacher: 18.2
  • Students: 328
  • Male/Female: 171/157
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
WESTWOODS ELEMENTARY SCHOOL 1500 FISHER RD TRAVERSE CITY, MI 49684 Phone: 2319337970 K-5th
Grade Size Distribution
  • Knd: 61
  • 1st: 64
  • 2nd: 49
  • 3rd: 56
  • 4th: 62
  • 5th: 56
School Population
  • Teachers: 18
  • Students per Teacher: 19.3
  • Students: 348
  • Male/Female: 182/166
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
WILLOW HILL ELEMENTARY SCHOOL 1250 HILL ST TRAVERSE CITY, MI 49684 Phone: 2319338540 K-5th
Grade Size Distribution
  • Knd: 66
  • 1st: 57
  • 2nd: 68
  • 3rd: 70
  • 4th: 68
  • 5th: 82
School Population
  • Teachers: 22
  • Students per Teacher: 18.7
  • Students: 411
  • Male/Female: 210/201
School District
  • TRAVERSE CITY AREA PUBLIC SCHOOLS
  • 412 WEBSTER ST TRAVERSE CITY, MI 49686
  • Phone: 2319331725
District Population
  • Schools: 22
  • Full-Time Teachers: 545
  • Students per Teacher: 18.7
  • Staff: 1335
  • Students: 10108
TBA CENTRAL ELEMENTARY SCHOOL 301 WEST 7TH ST TRAVERSE CITY, MI 49684 Phone: 2319335685
School Population
  • Teachers: 5
  • Students per Teacher: N/A
  • Students: 0
  • Male/Female: 0/0
School District
  • TRAVERSE BAY AREA ISD
  • 1101 RED DR TRAVERSE CITY, MI 49696
  • Phone: 2319226200
District Population
  • Schools: 10
  • Full-Time Teachers: 158
  • Students per Teacher: 3.3
  • Staff: 552
  • Students: 334

Private Schools in Zip Code 49684 (Traverse City)

* This list of schools may not match the property above.

TRAVERSE CITY SDA ELEM. SCHOOL 5625 Gray Rd Traverse City, MI 49684 Phone: 2319474640 1st-8th
Grade Size Distribution
  • 1st: 1
  • 2nd: 4
  • 3rd: 2
  • 4th: 2
  • 5th: 3
  • 8th: 1
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 13
ST. FRANCIS ELEMENTARY SCHOOL 130 E 10th St. Traverse City, MI 49684 Phone: 2319465961 K-4th
Grade Size Distribution
  • Knd: 298
  • 1st: 104
  • 2nd: 95
  • 3rd: 85
  • 4th: 60
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 642
TRINITY LUTHERAN SCHOOL 13th & Maple St. Traverse City, MI 49684 Phone: 2319462721 K-6th
Grade Size Distribution
  • Knd: 20
  • 1st: 21
  • 2nd: 18
  • 3rd: 25
  • 4th: 19
  • 5th: 26
  • 6th: 20
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 149
ALPHABET SOUP PRE-SCHOOL & DAY Traverse City, MI 49684 Phone: 2319411330 PreK-K
Grade Size Distribution
  • PreK: 43
  • Knd: 13
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 56
GRAND TRAVERSE AREA CATHOLIC S 123 E. 11TH STREET Traverse City, MI 49684 Phone: 2319468100 PreK-12th
Grade Size Distribution
  • PreK: 159
  • Knd: 80
  • 1st: 82
  • 2nd: 80
  • 3rd: 85
  • 4th: 98
  • 5th: 106
  • 6th: 102
  • 7th: 103
  • 8th: 74
  • 9th: 88
  • 10th: 80
  • 11th: 76
  • 12th: 65
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 1278
IMMACULATE CONCEPTION ELEMENTA 218 Vine St. Traverse City, MI 49684 Phone: 2319471252 PreK-5th
Grade Size Distribution
  • 3rd: 85
  • 4th: 98
  • 5th: 105
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 288
MONTESSORI CHILDRENS HOUSE INC TRAVERSE CITY, MI 49684 Phone: 2319299325 PreK-4th
Grade Size Distribution
  • PreK: 158
  • Knd: 24
  • 1st: 15
  • 2nd: 11
  • 3rd: 5
  • 4th: 10
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 223
SUTTONS BAY MONTESSORI CHILDRE TRAVERSE CITY, MI 49684 Phone: 2319299325 PreK-4th
Grade Size Distribution
  • PreK: 166
  • Knd: 23
  • 1st: 15
  • 2nd: 11
  • 3rd: 5
  • 4th: 10
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 230
THE PATHFINDER SCHOOL 11930 S West Bay Shore Dr Traverse City, MI 49684 Phone: 2319467820 PreK-8th
Grade Size Distribution
  • PreK: 30
  • Knd: 10
  • 1st: 16
  • 2nd: 16
  • 3rd: 12
  • 4th: 15
  • 5th: 16
  • 6th: 14
  • 7th: 10
  • 8th: 10
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 149
ST. Francis High School 123 E 11th St. Traverse City, MI 49684 Phone: 2319468038
School Population
  • Teachers: 0
  • Students per Teacher: N/A
  • Students: 0

* School data provided by US Department of Education


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.

* Rates and payment information listed in the mortgage calculator are provided as for general reference only. Specific mortgage information should be verified with a qualified lending professional

Contact Me

James Eberle
Cell: 231-313-8804
Office: 231-264-5400
RE/MAX of Elk Rapids
614 US 31 S
Elk Rapids, MI 49629-0036
Office: 231-264-5400

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In today's real estate market, you need to work with a real estate professional you can trust. I am dedicated to providing the absolute finest service and expertise possible for my clients. Whether you are buying or selling your primary residence, a second home, or relocating to a new neighborhood, I can help make your home ownership dreams come true

I bring over 30 years of sales and negotiating experiences along with a great aptitude for real estate sales. I serve Antrim County, including Elk Rapids, Torch Lake, Elk Lake, Rapid City, Williamsburg, Kewadin and all surrounding areas. I am very excited about working in this local real estate market, my roots in the community are deep and the experience I have gained by living in the area since 1983 will serve my customers well.

My wife Donna and I are residents of Elk Rapids and have two lovely daughters, Lauren and Kaitlin. My hobbies are boating, golfing, cycling, also collecting antique hydroplanes; and of course spending time with family and friends is a priority.