123 S Union Street Traverse City, MI $ 2,950,000
123 S Union Street
$ 2,950,000
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123 S Union Street

Traverse City, MI, 49684
$ 2,950,000
Bedrooms-- Baths-- Sq 20,000

Monthly Estimate*

$ 18,627

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Commercial Property for sale in Traverse City, MI

for $2,950,000. This 20,000 square foot building was built in 1900 on a lot size of 0.12.

Secure one of downtown Traverse City's truly irreplaceable commercial assets. This iconic approximately 20,000-square-foot building occupies a premier location between Front Street and State Street. Spanning four full stories with three mezzanine levels, it offers an architectural character rarely found in today's market. Whether your vision includes flagship retail, luxury residences, boutique hospitality, mixed-use redevelopment, or a long-term investment, the property offers exceptional flexibility to create a landmark asset in one of Northern Michigan's most desirable downtown districts. Wilson's Antiques currently occupies the building, providing immediate in-place income while preserving the flexibility to execute your long-term business plan on your own timeline. Positioned just steps from planned parking improvements and surrounded by continued investment throughout downtown Traverse City, the property is exceptionally well positioned to benefit from the city's continued growth and evolution. Fully sprinklered and served by an elevator, the building also features hardwood floors and an original tin ceiling, offering a distinctive foundation for restoration, adaptive reuse, or redevelopment. Landmark buildings cannot be replicated. With its irreplaceable location, substantial scale, historic character, and exceptional redevelopment potential, 123 S. Union Street represents a rare opportunity to establish a lasting presence in one of Michigan's premier downtown markets.

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Commercial Active

Price

$ 2,950,000

Property Type

Commercial

Taxes

$ 0

Style

Lot Size

0.12

Year Built

1900

Town/City

Traverse City

County/Region

Grand Traverse

MLS | Web ID

1947396

Features
General
Sewer Public Sewer
Heating Forced Air Natural Gas
Possession Close Of Escrow Negotiable Subject To Tenant Rights
Roof Membrane
Construction Materials Brick Block
Year Built 1900
Township Traverse City
Property Subtype Retail
Business Type Retail
Accessibility Accessible Entrance Accessible Elevator Installed
Assoc Fee Paid Per Annually
Business Name Wilson's Antiques
County Grand Traverse
New Construction N
Property Type Commercial Sale
Attached Garage N
Subdivision Name N/A
Garage Y/N N
Building Features Elevator
Rent Includes Other
Status New
Directions Located Downtown Traverse City between Front St & State St on the East side of Union St.
City Traverse City
Zoning Description Residential Multi-Family Office Retail Commercial Restaurant/Food Motel/Hotel
Lot Size Units Acres
Lot Size Square Feet 5227.2
Carport Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Lease Considered Y/N N
Living Area Units Square Feet
Standard Status Active
Tax Assessed Value 562041
Ownership Type Private Owner
Lease Amount Frequency Annually
Legal Description partial from tax record: LOTS 4-5 HANNAH LAY & CO'S 4TH SUB EXC PARTY WALL RIGHTS
Freehold IDX
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Interior
Basement Full
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
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Exterior
Parking Features Off Site On Street
Lot Features Freestanding Interior Lot
Water Source Public
Lot Size Area 0.12
Spa N
Lot Dimensions 47'x114'
Lot Size Acres 0.12
Road Surface Type Asphalt
Other Parking Off Site Street Parking
Waterfront Y/N N
Road Responsibility Public Maintained Road
Horse Y/N N
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* Excluded Features
List By
Coldwell Banker Schmidt Traverse City

Broker

Cell: 231-499-0529

Contact

Affordability Calculator

$18,627
Per Month
100%
0%
0%
Monthly Principal & Interest
$18,627
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2034270 Elementary School
2034440 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/1/2026$2,950,000 Listed Price

Map


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123 S Union Street, Traverse City, MI, 49684 is a Commercial Property for sale at $2,950,000 with 20,000 sqft and a lot size of 0.12. 123 S Union Street was built in 1900. The property's zip code is 49684 which is in Traverse City, MI