115 Franklin Street, Traverse City, Michigan

$1,275,000

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2,704

Square feet

0.11

Acres

About 115 Franklin Street

Prepare yourself to fall in love with this stunning property boasting fantastic West Bay views and a downtown location that can’t be beat! Even better, this property is zoned C-4, allowing for the most liberal of commercial zoning rules, making for one of the most unique investment opportunities in downtown Traverse City. The street level has most recently been utilized as a music school, though zoning regulations and the location allow for a multitude of use options, including restaurants, medical/legal offices, retail shops, AirBNB, and so much more. This historic 2-story Victorian home could also easily be converted back into a residential unit- the second floor is currently a 3 bed/2 bath AirBNB, projected to see immediate cash flow. The unfinished attic- space could also be finished to provide more rentable space for the existing AirBNB. Strolling downtown, you are greeted by a traditional covered porch spanning the full width of the home. Once inside, the lower level features original hardwood floors, a foyer entry, a large office, and several spacious rooms, many with solid oak pocket doors. There is also an expansive living room hosting a handsome corner fireplace. The upper/main level of the home offers numerous updates and features beautiful wood floors, and a spacious family room adjacent to the L-shaped kitchen and dining area. Beyond the main living areas is a designated laundry room, a full hallway bath, and 2 roomy guest bedrooms. Rounding out this level of the home is a spacious primary bedroom suite hosting a private bath with a standing shower. Just steps from the Bay and downtown TC, this property offers historic beauty and endless possibilities!

Features of 115 Franklin Street

MLS® # 1918883
Price $1,275,000
Bathrooms 0.00
Square Footage 2,704
Acres 0.11
Year Built 1930
Type Commercial
Sub-Type Mixed Use, Commercial Sale
Status Active U/C Taking Backups

Community Information

Address 115 Franklin Street
Subdivision Hannah Lay & Co's 5th
City Traverse City
County Grand Traverse
Province Michigan
Postal Code 49686

Amenities

Utilities WATER: Municipal Water SEWER: Municipal
Features Other
Parking Other
Is Waterfront No

Interior

Heating Natural Gas, Hot Water, Central Air
Has Basement No
Basement Stone

Exterior

Exterior Features Vinyl
Lot Description Irregular
Roof Asphalt
Construction Frame

Additional Information

Date Listed January 26th, 2024
Days on Market 258
Zoning Residential, Multi-Family, Office, Retail, Other, Commercial, Restaurant/Food, Special Use
Short Sale No
RE / Bank Owned No

Listing Details

OfficeREMAX Bayshore - W Bay Shore Dr TC

Listing Map

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