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109 E Front Street , 116 & 117

Traverse City, MI 49684
  • $4,900,000
  • STATUS: Active
  • ON SITE: 42 Days
  • MLS #: 1898455
UPDATED: 50 min ago
$4,900,000
  • 0
    BEDS
  • 0.44
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,972
    SQFT
  • $327
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Investment opportunity in the heart of downtown! 14,972 SF of ground floor space fully leased to long-term tenant, Boyne Country Sports. This offering is for 2 condominiumized units comprising the whole first floor of the historic Hannah Lay Building. The triple net lease has a 5.2% cap rate that will bump up to 6.1% in the renewal period. This highly sought after corner is sure to be a great value investment as lease rates are below market, leaving the investor with upside potential on this once in a lifetime investment.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-05-25T14:52:28.26.
www.brickcorbett.com/homes/127626771
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109 E Front Street , 116 & 117 Traverse City, MI 49684

  • Price: $4,900,000
  • Status: Active
  • On Site: 42 Days
  • Updated: 50 min ago
  • MLS #: 1898455
0
Beds
0
Baths
0
½ Baths
0.44
Acres
14,972
SQFT
$327
$/SQFT
1900
Built
Neighborhood:
Hannah Lay Building
County:
Grand Traverse
Area:
Grand Traverse
Property Description
Investment opportunity in the heart of downtown! 14,972 SF of ground floor space fully leased to long-term tenant, Boyne Country Sports. This offering is for 2 condominiumized units comprising the whole first floor of the historic Hannah Lay Building. The triple net lease has a 5.2% cap rate that will bump up to 6.1% in the renewal period. This highly sought after corner is sure to be a great value investment as lease rates are below market, leaving the investor with upside potential on this once in a lifetime investment.
Exterior Features

Construction BrickSteel Exterior Features Brick Foundation Poured Concrete Lot Dimensions Condo Parking CommonStreet Parking Road Public MaintainedBlacktop Roof Membrane

Interior Features

Heating Cooling Type Forced AirCentral Air

Property Features

Business Incl No Business Name Boyne Country Sports Deeded Waterfront No Documents On File None Eco Features No Extras None Heating Cooling Source Natural Gas Included In Lease None Inventory Incl No Licenses None Listing Agreement Type Exclusive Right To Sell Location Corner LotFreestanding Possession Subject To Tenants Rights Present Use Office BuildingRetail Store Real Estate Incl Yes Renewabley N Yes Sale Or Lease For Sale Sale Rent For Sale Section Number 3 Sewer Municipal Terms Commercial LoanCash1031 Exchange Township Traverse City Type Income Type Of Ownership Private Owner Univs Design Barrier Free Main Floor Access Vacant Land No Water Municipal Water Year Remodeled 2019 Zoning OfficeRetailCommercialRestaurant/Food

Listing information © 2022 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Coldwell Banker Schmidt-522: 231-929-2300.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-05-25T14:52:28.26.
 
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Brick & Corbett
500 S Union Street
Traverse City MI, 49686