2026 ECF Study - 2220 Commercial CDB General Area.pdf
Hotel Indigo Traverse City Petitioner Vs. City Of Traverse City Respondent · 26-001051-TT
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2026 ECF Study 2220 - Commercial CDB General Area Parcel Number Street Address Sale Date Sale Price Instr. Terms of Sale Adj. Sale $ Asd. when Sold Asd/Adj. Sale Cur. Appraisal Land + Yard Bldg. Residual Cost Man. $ E.C.F. Floor Area $/Sq.Ft. ECF Area Dev. by Mean (%) Use Code Land Value Other Parcels in Sale Land Table Property Class 28-51-767-001-01 309 CASS 01/31/25 $575,000 WD 03-ARM'S LENGTH $575,000 $330,200 57.43 $719,861 $62,978 $512,022 $405,233 1.264 2,396 $213.70 2220 126.3524 BANK BRANCH $62,978 2007 TC COMM IND CONDOS 207 28-51-630-048-00 515 BAY 04/30/24 $790,000 WD 03-ARM'S LENGTH $790,000 $418,100 52.92 $816,129 $668,007 $121,993 $91,377 1.335 2,203 $55.38 2220 133.5053 OFFICE BUILDINGS $663,561 2060 GARLAND - GRANDVIEW 201 28-51-798-009-00 440 E FRONT 07/21/23 $1,150,000 WD 03-ARM'S LENGTH $1,150,000 $448,200 38.97 $1,284,201 $337,036 $812,964 $584,309 1.391 4,620 $175.97 2220 139.1325 OFFICE BUILDINGS $330,142 2040 E FRONT ST/MUNSON AVE 201 28-51-658-043-00 229 GARLAND 07/18/24 $2,400,000 WD 03-ARM'S LENGTH $2,400,000 $900,100 37.50 $2,239,365 $1,515,108 $884,892 $446,796 1.981 9,490 $93.24 2220 198.0526 WAREHOUSES $1,515,108 2060 GARLAND - GRANDVIEW 201 28-51-618-105-00 401 S UNION 12/09/25 $1,650,000 MLC 03-ARM'S LENGTH $1,650,000 $511,900 31.02 $1,507,242 $886,975 $763,025 $382,645 1.994 6,111 $124.86 2220 199.4082 BAR $841,080 2090 UNION - STATE - FRONT 201 28-51-798-199-00 115 E FRONT 04/18/24 $710,000 WD 03-ARM'S LENGTH $710,000 $267,100 37.62 $598,094 $305,752 $404,248 $180,347 2.242 1,808 $223.59 2220 224.1505 RESTAURANTS $305,045 2120 COM'L RIVERFRONT 201 28-51-794-007-00 116 S UNION 06/07/23 $1,400,000 WD 03-ARM'S LENGTH $1,400,000 $333,900 23.85 $1,094,993 $436,249 $963,751 $406,381 2.372 3,750 $257.00 2220 237.1544 STORE RETAIL $433,411 2090 UNION - STATE - FRONT 201 28-51-798-182-30 321 E FRONT 05/21/25 $900,000 WD 03-ARM'S LENGTH $900,000 $348,100 38.68 $739,058 $461,038 $438,962 $171,511 2.559 1,957 $224.30 2220 255.9375 STORE RETAIL $458,169 2120 COM'L RIVERFRONT 201 28-51-794-067-00 212 E FRONT 12/18/24 $2,770,000 WD 03-ARM'S LENGTH $2,770,000 $814,400 29.40 $1,804,148 $672,202 $2,097,798 $698,301 3.004 8,424 $249.03 2220 300.4146 BAR $672,202 2090 UNION - STATE - FRONT 201 28-51-798-006-00 424 E FRONT 06/30/25 $1,100,000 WD 03-ARM'S LENGTH $1,100,000 $483,100 43.92 $713,572 $285,930 $814,070 $263,814 3.086 2,538 $320.75 2220 308.5776 OFFICE BUILDINGS $276,314 2040 E FRONT ST/MUNSON AVE 201 Totals: $19,895,700 $13,445,000 $4,855,100 $11,516,663 $7,813,725 $3,630,714 $193.78 212.2686 Sale. Ratio => 36.11 E.C.F. => 2.152 Std. Deviation=> 0.658400 Std. Dev. => 10.26 Ave. E.C.F. => 2.123 Ave. Variance=> 212.2686 Coefficient of Var=> NOT USED: 28-51-630-007-00 603 BAY 07/30/25 $3,000,000 WD 03-ARM'S LENGTH $3,000,000 $2,025,900 67.53 $4,060,085 $2,258,030 $741,970 $1,111,693 0.667 11,428 $64.93 2220 66.7423 OFFICE BUILDINGS $2,247,578 2060 GARLAND - GRANDVIEW 201 28-51-618-026-00 430 S UNION 01/02/25 $1,250,000 WD 03-ARM'S LENGTH $1,250,000 $386,100 30.89 $1,368,333 $1,104,587 $145,413 $162,706 0.894 1,951 $74.53 2220 89.3718 STORE RETAIL $1,078,992 2090 UNION - STATE - FRONT 201 28-51-798-186-00 201 E FRONT 05/14/24 $1,475,700 WD 03-ARM'S LENGTH $1,475,700 $937,500 63.53 $1,794,726 $981,370 $494,330 $501,762 0.985 5,890 $83.93 2220 98.5188 RESTAURANTS $981,370 2120 COM'L RIVERFRONT 201 28-51-618-099-04 417 S UNION 10/01/25 $727,000 WD 03-ARM'S LENGTH $727,000 $330,500 45.46 $915,166 $561,043 $165,957 $218,460 0.760 3,773 $43.99 2220 75.9669 STORE RETAIL $549,862 2090 UNION - STATE - FRONT 201 28-51-798-145-00 522 E FRONT 01/18/24 $2,900,000 WD 03-ARM'S LENGTH $2,900,000 $878,400 30.29 $2,056,923 $1,366,018 $1,533,982 $426,221 3.599 6,584 $232.99 2220 359.9026 OFFICE BUILDINGS $1,366,018 2090 UNION - STATE - FRONT 201 28-51-798-007-00 430 E FRONT 06/13/25 $825,000 WD 03-ARM'S LENGTH $825,000 $252,800 30.64 $470,331 $137,692 $687,308 $205,206 3.349 1,464 $469.47 2220 334.9356 BARBER/BEAUTY $137,692 2040 E FRONT ST/MUNSON AVE 201