966 W South Airport Road, Traverse C
Traverse City MI 49686
966 W South Airport Road, Traverse C
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$549,000
Description
Traverse City - MLS# 1940890
2 tenant investment property on busy South Airport Road near the Traverse City airport. Leases are short-term, so that a buyer could use the property if they want to, however the tenants would like to keep renting, so longer term leases are also a possibility for investors. Current leases are below market providing upside potential for a buyer. Tenants include Boyd Sewing and Top Comics. The Boyd Sewing space has a retail sales area, classroom, loft for additional storage. and living quarters on the second floor with kitchen and full bathroom. Priced to sell at a 8.8% cap rate (based on current rents which are very low and could be raised) and well below assessor's true cash value.
Details
- Type : Retail
- Acres : 0.56
- Township : Garfield
- Lake/River :
- County : Grand Traverse
- Zoning : Office,Retail,Commercial,Restaurant/Food,Automotive Service
- Lot Size : 99' x 247.5'
- Basement :
- Construction :
Listing Provided Courtesy of Daniel Stiebel - Coldwell Banker Schmidt Traverse City
Map
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