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1323 S Cass Street 1323 Cass St 1,792 SF Flex Building Traverse City, MI 49684 $995,000 ($555.25/SF) 7.50% Cap Rate
Executive Summary
A rare Live/Work opportunity just outside of downtown Traverse City. This 1,792 sq ft building sits on a 165-foot Cass Street frontage and offers a turnkey professional office on the main level with a fully renovated studio apartment above, completely gut-renovated in 2018 down to the framing, with new electrical, plumbing, flooring, and a second level added.
The main floor (896 sq ft) is ADA compliant and configured for professional use currently operating as a chiropractic office with three treatment/private rooms, a half bath, and a reception area with a built-in wooden desk. Similar professional uses such as medical, dental, legal, wellness are permitted under the property's grandfathered commercial status. Prospective buyers should verify permitted use with the City of Traverse City prior to closing.
The building is fully sprinklered with a fire alarm system, features a metal roof and metal siding, natural gas, an outdoor irrigation system, a digital outdoor sign, and an outdoor deck with Boardman Lake views. A fenced outdoor area currently used as a fire pit space offers additional flexibility usable as a dog pen, lounge area, or client outdoor space.
The second lot, currently a 16-space parking lot, is buildable. A second dwelling is permitted, and there is potential for two duplexes, representing meaningful upside for the right buyer.
Upstairs, an 896 sq ft studio apartment with high-end finishes is fully furnished and move-in or rental ready. The bathroom features marble tile, a custom shower, and in-floor radiant heat. The kitchen is fully equipped. A large custom walk-in closet with built-in storage adds practical luxury. A PVC block wall creates a defined, private sleeping area separate from the main living space. Washer and dryer included.
The property sits within easy reach of the Boardman Lake Loop Trail, next to Right Brain Brewery and the TART Trail network, a genuine amenity for any owner-occupant or tenant.
The main floor (896 sq ft) is ADA compliant and configured for professional use currently operating as a chiropractic office with three treatment/private rooms, a half bath, and a reception area with a built-in wooden desk. Similar professional uses such as medical, dental, legal, wellness are permitted under the property's grandfathered commercial status. Prospective buyers should verify permitted use with the City of Traverse City prior to closing.
The building is fully sprinklered with a fire alarm system, features a metal roof and metal siding, natural gas, an outdoor irrigation system, a digital outdoor sign, and an outdoor deck with Boardman Lake views. A fenced outdoor area currently used as a fire pit space offers additional flexibility usable as a dog pen, lounge area, or client outdoor space.
The second lot, currently a 16-space parking lot, is buildable. A second dwelling is permitted, and there is potential for two duplexes, representing meaningful upside for the right buyer.
Upstairs, an 896 sq ft studio apartment with high-end finishes is fully furnished and move-in or rental ready. The bathroom features marble tile, a custom shower, and in-floor radiant heat. The kitchen is fully equipped. A large custom walk-in closet with built-in storage adds practical luxury. A PVC block wall creates a defined, private sleeping area separate from the main living space. Washer and dryer included.
The property sits within easy reach of the Boardman Lake Loop Trail, next to Right Brain Brewery and the TART Trail network, a genuine amenity for any owner-occupant or tenant.
Property Facts
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
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Presented by
REMAX Bayshore - Union St TC
1323 S Cass Street | 1323 Cass St
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