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 | |
Updated | August 7th, 2023 |
Type | Retail |
Price | $1,450,000 |
Building | 10,996 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.