851 Garfield AveTraverse City, MI 49686

Property Details for 851 Garfield Ave

Year built

1978

Lot size

0.45 AC

Property size (Sq ft)

5,133 SF

Property type

Commercial real estate

APN

51-480-010-00

APU

5148001000

Description

This exceptional 5,133-square-foot commercial property, located at 851 S Garfield Ave in Traverse City, Michigan, presents a lucrative investment opportunity. Situated in a thriving strip mall complex, this restaurant and bar boasts a prime location with high visibility, averaging 21,000 cars daily. Its proximity to the airport, sports venues, and new housing developments ensures consistent traffic and a strong customer base. The property features a fully equipped kitchen, ample seating with booths, tables, and chairs, a dedicated bar area, a banquet space, and an outdoor patio, accommodating up to 190 patrons. The sale includes a valuable Class C liquor license. Built in 1978, the building sits on a 0.44-acre lot with 75 parking spaces. Permitted zoning is Commercial Restaurant/Food, allowing for diverse uses including microbreweries, amusement/recreation, medical services, and more. The asking price is $995,000 ($193.84/sq ft). The APN is 28-51-480-010-00. A virtual tour is available. This is a turnkey operation ready for a new owner to capitalize on its established success and prime location. The property is privately owned.

• Alternative Use

  Use

  Valuation

  Residential

  $1,073,084

  Hospitality

  $982,939

  Educational

  $817,794

  Medical

  $845,919

  Retail

  $1,272,124

Location Insight

City

Traverse City

County

Grand Traverse

State

Michigan

Latitude

44.7516

Longitude

-85.5944

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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