Property Listing No Longer Available for Sale

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
UpdatedMarch 31st, 2023
TypeRetail
Price$4,900,000
Building14,972 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.


Financials


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