966 W South Airport Rd - Freestanding FOR SALE


Traverse City, MI 49686
$569,000 USD
231-633-0432
966 W South Airport Rd, Traverse City, MI for Sale
$569,000 USD
Freestanding - FOR SALE
1/38
null | 7.7% Cap Rate

966 W South Airport Rd
Traverse City, MI 49686


OVERVIEW

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 7.7% cap rate (based on current rents which are very low and could be raised) and well below assessor's true cash value.

FOR SALE DETAILS

PRICE

$569,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

7.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

Commercial

APN/PARCEL ID

05-013-015-00

ASK ABOUT THIS PROPERTY

Daniel StiebelColdwell Banker Schmidt RealtorsMore Info
231-633-0432

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Daniel StiebelColdwell Banker Schmidt RealtorsMore Info
231-633-0432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.