Stuart Lazar

Traverse City MI Commercial for Sale

Revised (4/25/2023) to reflect that Seller alternatively would lease property at $20 SF on a NNN basis. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below-market interest rate dependent on the overall offer. Great opportunity to purchase a fabulous building at a great corner on West Front Street. This listing is for real estate only. Present location has the history of being a liquor store for approximately six decades -- and was the first in the area to offer lottery (locals remember when lines would form on big jackpot days). The listing includes the parcel at 542 West Front Street, which includes the existing building, as well as a separate designated 118 N Maple. The second lot can be used for excess parking or can be (with City consent) combined with the primary parcel in expanding the footprint of the existing building (or building a new structure). The current owner has had preliminary discussions with the City about demolishing the existing structure and replacing it with a mixed commercial/residential 4-story building. Property is zoned C-2. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below interest rate dependent on the overall offer.Seller is a licensed real estate agent in the State of Michigan.

Traverse City MI Commercial for Sale

Revised (4/25/2023) to reflect that Seller alternatively would lease property at $20 SF on a NNN basis. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below-market interest rate dependent on the overall offer. Great opportunity to purchase a fabulous building at a great corner on West Front Street. This listing is for real estate only. Present location has the history of being a liquor store for approximately six decades -- and was the first in the area to offer lottery (locals remember when lines would form on big jackpot days). The listing includes the parcel at 542 West Front Street, which includes the existing building, as well as a separate designated 118 N Maple. The second lot can be used for excess parking or can be (with City consent) combined with the primary parcel in expanding the footprint of the existing building (or building a new structure). The current owner has had preliminary discussions with the City about demolishing the existing structure and replacing it with a mixed commercial/residential 4-story building. Property is zoned C-2. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below interest rate dependent on the overall offer. Seller is a licensed real estate agent in the State of Michigan.

Traverse City MI Commercial Sale for Sale

Real Estate Only for sale. Sale does not include the business of the Traverse City Comedy Club and the Grand Traverse Event Center. Businesses will be moving to new location. Purchase of Grand Traverse Event Center business is possible, but not the Traverse City Comedy Club. Purchaser will be required to enter into a non-compete that it will not offer comedy at the location for a period of 12 months. Price includes only real estate & FF&E. Purchase of liquor license is available for an additional $150,000. Liquor license will not be sold without the sale of the building. If purchaser acquires liquor license, purchaser shall be required to purchase all wine and liquor on premises at the time of closing. Sale of real estate includes the sale of all FF&E, except for any FF&E that is specific to the Traverse City Comedy Club (i.e., signage, glassware, souvenirs). Seller is related to a licensed real estate salesperson in the State of Michigan. Land contract may be available. Down payment requirement, interest rate, maturity, and other terms will be determined by the quality of the offer. For seller financing, a down payment of no less than 20 percent is required. Interest rate may be below market. All information available comes from public records. Purchasers should verify the accuracy of any information or omissions.