Prime development opportunity located near Mall and shopping corridor. The property has recently been rezoned to R-3 Multi-Family Residential zoning, which allows for a large apartment development. Conveniently located between Traverse City and Chum's Corner, this 18.13 acre parcel features 428' of frontage on US 31, natural beauty with a development envelope surrounded by mature trees and a creek on 2 sides. Five residential homes and a small commercial building currently generate income while you work out your development plans.