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1610 W South Airport Road Traverse City, MI 49686-4793
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Key Details
Sold Price $1,900,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
Square Footage 24,711 sqft
Price per Sqft $76
MLS Listing ID 80000464
Sold Date 11/22/22
Year Built 1965
Lot Size 2.120 Acres
Acres 2.12
Lot Dimensions 200X462
Property Description
Fantastic opportunity to own a great commercial property along South Airport road with a high quality Tenant in place. Property consists of 2.12 Acres of land and over 24,000 sq ft of buildings. The main building had a new high quality roof installed just over a year ago and is used for a showroom, offices and shop area. The two rear buildings are used for warehousing to support the tenants northern Michigan operations. Tenant is on the second year of a five year lease with a option to renew for additional five years. Current year CAP rate is 7.4% with yearly increases throughout lease and extension.
Location
State MI
County Grand Traverse
Area Garfield Twp (28005)
Zoning Commercial
Interior
Heating Forced Air
Cooling Central A/C, Other
Exterior
Garage Parking Lot
Building
Foundation Slab
Water Public Water
Structure Type Steel
Others
Ownership Private
Energy Description Natural Gas
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Commercial Loan
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with Three West, LLC
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