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$ 924,000
Est. payment | /mo
2,000 SqFt
$ 924,000
Est. payment | /mo
2,000 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $462
Subdivision Mi
MLS Listing ID 80064809
Year Built 1873
Lot Dimensions ~102'x165'
Property Sub-Type Commercial/Industrial
Property Description
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.
Location
State MI
County Grand Traverse
Area Traverse City (28021)
Zoning Commercial
Interior
Heating Forced Air
Building
Foundation Basement
Water Public Water
Structure Type Block,Brick,Frame,Steel
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Commercial Loan,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Coldwell Banker Schmidt Traverse City
Nearby Locations
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