Description
Investment Opportunity with 6.7% cap rate. Fully leased second floor office condominium for sale in the heart of downtown Traverse City. The historic Hannah Lay Building boasts tall ceilings, exposed brick walls, wide hallways, 2 elevators with lobbies on Front Street and the alley behind the building. This suite is a wide open floor plan with a glass conference room and separate kitchen. It is leased until July 31, 2024 The condominium by-laws allow the unit to be converted to residential (although, no short term rentals), if the buyer decided they prefer that use in the future. There is one parking space in the lower level garage that may be purchased with the unit and additional parking is by permit in the adjacent city parking lot.
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0BEDS
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0.44ACRES
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0BATHS
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01/2 BATHS
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1,860SQFT
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$300$/SQFT
School Ratings & Info
Description
Investment Opportunity with 6.7% cap rate. Fully leased second floor office condominium for sale in the heart of downtown Traverse City. The historic Hannah Lay Building boasts tall ceilings, exposed brick walls, wide hallways, 2 elevators with lobbies on Front Street and the alley behind the building. This suite is a wide open floor plan with a glass conference room and separate kitchen. It is leased until July 31, 2024 The condominium by-laws allow the unit to be converted to residential (although, no short term rentals), if the buyer decided they prefer that use in the future. There is one parking space in the lower level garage that may be purchased with the unit and additional parking is by permit in the adjacent city parking lot.
The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2023 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2023-03-29T20:52:20.693.