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1133 W S Airport Road

Traverse City, MI 49686
  • $1,350,000
  • STATUS: Closed
  • ON SITE: 368 Days
  • MLS #: 1912139
Sold - 01/08/2024
$1,350,000
SOLD - 01/08/2024
  • 0
    BEDS
  • 0.86
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,996
    SQFT
  • $0
    $/SQFT
Type:
Commercial
Built:
1997
County:

School Ratings & Info

Description

Investment property with excellent visibility on a main traffic artery in Traverse City. This retail strip mall is 100% leased to three established retail and business tenants. Current tenants include Big Apple Bagels, Anavon Technology, and Thai Kitchen. Building set up for 3-5 suite configuration allows for great flexibility for future tenants. Deeded parking easement on property to the east for additional parking. Offered at a 7.4% Cap rate, but owner actually gets 8% including management fee (easy to manage). Current rates are below market leaving upside potential as leases mature.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-15T20:52:24.427.
www.housestraversecity.com/homes/140507812
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1133 W S Airport Road Traverse City, MI 49686

  • Price: $1,450,000
  • Status: Closed
  • On Site: 368 Days
  • Updated: 64 min ago
  • MLS #: 1912139
0
Beds
0
Baths
0
½ Baths
0.86
Acres
10,996
SQFT
$0
$/SQFT
1997
Built
Neighborhood:
Big Apple Bagels Building
County:
Grand Traverse
Area:
Grand Traverse
Property Description
Investment property with excellent visibility on a main traffic artery in Traverse City. This retail strip mall is 100% leased to three established retail and business tenants. Current tenants include Big Apple Bagels, Anavon Technology, and Thai Kitchen. Building set up for 3-5 suite configuration allows for great flexibility for future tenants. Deeded parking easement on property to the east for additional parking. Offered at a 7.4% Cap rate, but owner actually gets 8% including management fee (easy to manage). Current rates are below market leaving upside potential as leases mature.
Exterior Features

Construction Block Exterior Features BrickBlock Foundation Slab Lot Dimensions see associated docs Parking PavedParking Lot Road Public MaintainedBlacktop Roof Asphalt

Interior Features

Heating Cooling Type Forced AirCentral Air

Property Features

Business Incl No Business Name NA Deeded Waterfront No Documents On File EasementsSurvey Eco Features No Extras None Heating Cooling Source Natural Gas Included In Lease Other Inventory Incl No Licenses None Listing Agreement Type Exclusive Right to Sell Location Shopping CenterFreestanding Possession NegotiableSubject to Tenants Rights Present Use Restaurant/Food ServiceRetail Store Real Estate Incl Yes Sale Or Lease For Sale Sale Rent For Sale Section Number 14 Seller Concessions No Sewer Municipal Terms Commercial LoanCash1031 Exchange Township Garfield Type Shopping Center Type Of Ownership Private Owner Univs Design Barrier Free Main Floor Access Vacant Land No Water Municipal Water Year Remodeled 2014 Zoning OfficeRetailCommercialRestaurant/Food

Listing information © 2024 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Coldwell Banker Schmidt-522: 231-929-2300.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-15T20:52:24.427.
 
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Team Dakoske | RE/MAX Bayshore
500 S. Union
Traverse City MI, 49684