Description

Traverse City - MLS# 1941634
Single-tenant retail condominium located directly on Front Street in the heart of downtown Traverse City. The property is fully leased on a new 5-year NNN lease to Serendipity, a strong retail operator with multiple locations in Northern Michigan. The ~2,000 SF storefront features strong Front Street visibility with an efficient retail layout including an open sales floor, fitting rooms, rear storage, and a private restroom. The unit is positioned within one of downtown’s most active retail blocks and benefits from C-4B zoning, allowing for a wide range of permitted uses. This offering provides predictable, hands-off cash flow with a true triple-net lease structure and condominium ownership, making it well-suited for private investors and 1031 exchange buyers seeking durable downtown income. Currently priced at a 7.14% CAP.