109 E Front Street, Traverse City, MI
Retail for Sale - $4,900,000 - 14,972 Sq. Ft.
Property Info
CIMLS# | 1120577 |
Location 109 E Front Street Traverse City MI 49684 | |
Updated | March 31st, 2023 |
Type | Retail |
Price | $4,900,000 |
Building | 14,972 Sq. Ft. |
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.