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Four Iconic Traverse City Addresses Now For Sale

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In recent weeks, four iconic area properties have been on the market for $ 3-4 million each. Ticker Explore why they are for sale now, who is kicking the tires, and what happens to some of the region’s most notable addresses.

“Office space leasing has declined significantly, but office space sales have increased by 150%,” said Kevin Endres of ThreeWest, already surpassing 2021 sales in half of 2022. It states. Dan Stiebel of Coldwell Banker Schmidt If you feel that many generations of places are for sale at once, you’re not wrong. “Many people have owned things for a long time, but see what our price did: they’well, maybe it’s time to cash out,” he says.

Mackinac Brewpub / Beadle Building: 161 E. Front St.
When it hit the market in late April, the first of the four news was announced. No one has triggered the combination of building and business, but local realtor Jack Lane says a “7-8” party is kicking the tires. The brau pub business and buildings are package transactions, “as you can imagine, the restaurant industry is currently skeptical,” he says.

“It’s really hard to sell restaurants in this era,” Lane said, citing ongoing labor issues and long-term pandemic-related restrictions on restaurants, but “more places in town.” No restaurant. “The sale price has recently been reduced by seven digits to just $ 4 million, including the office space on the second floor. That space is currently occupied, but Lane says, “Almost everyone who saw it … talked about putting an AirBnB suite there by buying a building.”

Smith & Johnsonville: 603 Bay Street
The owners of Smith & Johnsonville put the entire property on the market after starting by renting only the second floor. The eponymous company has vacated an office upstairs for a new space, but as list agent Kevin Endres says, thanks to the huge 15-foot illuminated wreath in front, the “Christmas Wreath Building” Well known as. All holiday seasons.

With unobstructed views of West Bay, endless “for now” and “a truly iconic kind of architecture,” this property (price of about $ 3.5 million) has ample on-site parking and on-street parking. There is parking and more than 12,000 square feet of space. .. Perhaps most importantly, because the ground floor is currently occupied, “someone can actually enter this building and pay most of the mortgage payments with income from the tenants on the ground floor,” Endres said. say. Nothing is said about the potential interest in AirBnB conversion, but a large office with a fireplace can be a great looking master suite.

Freemasonry Building: 100 E. Front St.
The Masonic building, built in 1890, is older than the Mackinac Brew Pub building on the street, but for some reason is not the oldest building on this list (see below). Still, the historic building costs $ 4 million, including an entire three-story building and 20,000-square-foot space that includes all three of the first-floor retail tenants, Diversions, First Community Bank, and Robertson’s Hair Center. It is on the market.

Listing agent Dan Stiebel says the property has been in the same family for over 50 years and is in a place that is a “prime corner” and a “really great opportunity for someone.” Of the approximately 20 calls we received about this property, “many people are considering converting the second or third floor to a short-term rental property at the price we are looking for,” Stiebel said. Says. It is open to keeping the office as it is.

Old Mission Inn: 18599 Mission Road
Why buy a building and convert half of it to AirBnB rental when you can buy a turnkey hotel and cafe (with a liquor license!) On the Old Mission Peninsula at the same price as other downtown properties, time and money Do you spend? Berkshire Hathaway’s list agent Rita Rathburn refuses to share many details, but 13-room, 10-acre real estate is available for $ 4 million.

The Old Mission Inn was originally built in 1869 and has had only a handful of owners for decades. The property also boasts a vast porch, hundreds of feet across the East Bay frontage. The property has many updates, but the purchaser will also have access to the original post office and switchboard system along with other historical relics and documents. With all this (and the proud right to run Michigan’s oldest continuously operated hotel), this property should get a lot of attention, but keep in mind: it’s an operating facility, so Do not plan your visit unless you are a paid guest or potential pre-qualified purchaser.

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