1133 W S Airport Road, Traverse City, MI

Retail for Sale - $1,450,000 - 10,996 Sq. Ft.


Agent Info

Dan Stiebel
Coldwell Banker Schmidt

Property Info

CIMLS#1143943
Location
  1133 W S Airport Road
  Traverse City MI 49686
UpdatedAugust 7th, 2023
TypeRetail
Price$1,450,000
Building10,996 Sq. Ft.

Property Description

Investment property with excellent visibility on a main traffic artery in Traverse City. This retail strip mall is 100% leased to three established retail and business tenants. Current tenants include Big Apple Bagels, Anavon Technology, and Thai Kitchen. Building set up for 3-5 suite configuration allows for great flexibility for future tenants. Deeded parking easement on property to the east for additional parking. Offered at a 7.4% Cap rate, but owner actually gets 8% including management fee (easy to manage). Current rates are below market leaving upside potential as leases mature.


Financials



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