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2464 S M-37

Traverse City, MI 49685
  • $599,000
  • STATUS: Active
  • ON SITE: 65 Days
  • MLS #: 1900720
UPDATED: 60 min ago
$599,000
  • 0
    BEDS
  • 1.38
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 4,559
    SQFT
  • $131
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1970
County:

School Ratings & Info

Description

SELLER IS MOTIVATED- UP TO $100,000.00 CONCESSION AND/OR PRICE REDUCTION! Seller is willing to do some "build to suit" re-hab as an alternative, as well. Let's get creative...BRING US AN OFFER. Your business could be based out of this high visibility location (traffic count = 13360 vehicles/day on average)! If you can't use all of the space rent it out and offset your business expenses...or invest in the building. When building is fully utilized as a rental with qualified tenants it will make a tidy profit. The property consists of appx. 7759 square feet Gross Building Area (GBA). There are 2 buildings on the property- an office building consisting of approximately 4559 Square Feet and a light industrial building with 3200 total rentable square feet in 2 units. The light industrial building has propane heat and one unit has 3-phase electrical. Unit #1 in the light industrial building has a large mezzanine. All of this on 1.38 Acres. Potential/Pro-forma rate of capitalization= 9.9% Pro-forma ROI without Appreciation = ~24.01% and with modest appreciation of 1.5% annual over 30% ROI May be potential for value - add by adding additional pole-barn type structures to the lot and offering them for rent or renting space on the lot for shrink wrapped boats or?

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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: 2022-08-11T09:52:19.64.
www.brickcorbett.com/homes/129559296
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2464 S M-37 Traverse City, MI 49685

  • Price: $599,000
  • Status: Active
  • On Site: 65 Days
  • Updated: 60 min ago
  • MLS #: 1900720
0
Beds
2
Baths
0
½ Baths
1.38
Acres
4,559
SQFT
$131
$/SQFT
1970
Built
Neighborhood:
Traverse City
County:
Grand Traverse
Area:
Grand Traverse
Property Description
SELLER IS MOTIVATED- UP TO $100,000.00 CONCESSION AND/OR PRICE REDUCTION! Seller is willing to do some "build to suit" re-hab as an alternative, as well. Let's get creative...BRING US AN OFFER. Your business could be based out of this high visibility location (traffic count = 13360 vehicles/day on average)! If you can't use all of the space rent it out and offset your business expenses...or invest in the building. When building is fully utilized as a rental with qualified tenants it will make a tidy profit. The property consists of appx. 7759 square feet Gross Building Area (GBA). There are 2 buildings on the property- an office building consisting of approximately 4559 Square Feet and a light industrial building with 3200 total rentable square feet in 2 units. The light industrial building has propane heat and one unit has 3-phase electrical. Unit #1 in the light industrial building has a large mezzanine. All of this on 1.38 Acres. Potential/Pro-forma rate of capitalization= 9.9% Pro-forma ROI without Appreciation = ~24.01% and with modest appreciation of 1.5% annual over 30% ROI May be potential for value - add by adding additional pole-barn type structures to the lot and offering them for rent or renting space on the lot for shrink wrapped boats or?
Exterior Features

Construction Frame Exterior Features BrickVinyl Foundation WalkoutBlockFull Finished Lot Dimensions 200X400 Parking Parking Lot Parking Spaces 16 Road BlacktopPublic Maintained Roof Asphalt

Interior Features

Heating Cooling Type Central AirForced Air

Property Features

Business Incl No Business Name Mcmac Building Deeded Waterfront No Documents On File Other Eco Features No Energy Efficient Not Applicable Extras Overhead Door(S)Loading Dock(S)3-Phase Electric Heating Cooling Source Natural GasPropane Gas Included In Lease None Inventory Incl No Licenses None Listing Agreement Type Exclusive Right To Sell Location Freestanding Possession Negotiable Present Use Manufacture/WarehouseOffice BuildingOther Real Estate Incl Yes Renewable Not Applicable Renewabley N No Rent Expannual 90000 Sale Or Lease For Sale Sale Rent For Sale Section Number 17 Sewer Municipal Summer Taxes 6172.65 Terms 1031 ExchangeCashCommercial LoanOther Township Blair Type Office Type Of Ownership Private Owner Univs Design Barrier Free None Vacant Land No Water Municipal Water Water Conservation Not Applicable Winter Taxes 1436.64 Zoning CommercialManufacture/WarehouseOffice

Listing information © 2022 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Cygnus Real Estate: 231-994-3225.



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: 2022-08-11T09:52:19.64.
 
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Brick & Corbett
500 S Union Street
Traverse City MI, 49686