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Active Under Contract

2464 S M-37

2464 S M-37, Traverse City, MI 49685

$499,000
SELLER IS MOTIVATED-NEW PRICE! 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?

4,559 Sq.Ft. LIVING AREA

1.38 Acres lot

CAROLE HIGGINS

CAROLE HIGGINS

Features & Amenities

Area & Lot

  • Status Active Under Contract
  • Living Area4,559 Sq.Ft.
  • Lot Area1.38 Acres
  • MLS® ID1900720
  • TypeCOMMERCIAL
  • YEAR BUILT1970

Exterior

  • water SourceMunicipal Water
  • roofAsphalt
  • parkingParking Lot
  • sewerPrivate Septic
  • SubstructureFrame
  • Green featuresNot Applicable
  • other exterior FeaturesVinyl, Brick

Financial

  • Sales Price$499,000
  • Zoning Office,Commercial,Manufacture/Warehouse

Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Thank you for your interest in 2464 S M-37, Traverse City, MI 49685. We are reviewing your request and will be in touch shortly!

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