966 W South Airport Road, Traverse City
Driving Directions$549,000
(415 ) 254-1622
info@manitou-life.com
Listing is courtesy of Coldwell Banker Schmidt Traverse City
231-922-2350
MLS: #1940890
- Sale or Lease: True
- Square Feet: 7,380
- Acres: 0.56
- Business Incl: No
- Real Estate Incl: Yes
- Township: Garfield
- County: Grand Traverse
- Business Type: Professional/Office, Retail
- Location: Freestanding
- Included in Rent: Other
- Zoning: Office,Retail,Commercial,Restaurant/Food,Automotive Service
2 tenant investment property on busy South Airport Road near the Traverse City airport. Leases are short-term, so that a buyer could use the property if they want to, however the tenants would like to keep renting, so longer term leases are also a possibility for investors. Current leases are below market providing upside potential for a buyer. Tenants include Boyd Sewing and Top Comics. The Boyd Sewing space has a retail sales area, classroom, loft for additional storage. and living quarters on the second floor with kitchen and full bathroom. Priced to sell at a 8.8% cap rate (based on current rents which are very low and could be raised) and well below assessor's true cash value.
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