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$924,000
Est. payment /mo
2,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $462
MLS Listing ID 78080064809
Year Built 1873
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 Area28042Traversecity
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Utilities Available NaturalGasConnected
View Y/N No
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Traverse City
Others
Acceptable Financing Cash, Other, Trade1031Exchange
Listing Terms Cash, Other, Trade1031Exchange
Special Listing Condition Standard
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Listed by Alex MacKenzie of Coldwell Banker Schmidt Traverse City
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