109 E Front Street Unit 116 & 117
Traverse City, MI, 49684
$4,900,000
$327 per ft²
$4,900,000
$327 per ft²
Active
Active
- For Sale14,972 ft²
Commercial
Built 1900
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.
MLS® ID:
1898455
Listed:
4/10/22
Updated:
3/29/23
Cygnus Real Estate
Exterior/Building Features
Lot Size
0.44 acres lot
Exterior Features
Brick
Roof
Membrane
Sewer
Municipal
Other Property Details
Area Name
Grand Traverse
Garage
Yes
Parking
Common, Street Parking
View
N
County
Grand Traverse
Water Source
Municipal Water
Pool
No
Zoning
Commercial,Office,Restaurant/Food,Retail
Courtesy of Coldwell Banker Schmidt-522 -
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Cygnus Real Estate
