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109 E Front Street , #213

Traverse City, MI 49684
  • $558,000
  • STATUS: Active
  • ON SITE: 124 Days
  • MLS #: 1898462
UPDATED: 42 min ago
$558,000
  • 0
    BEDS
  • 0.44
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,860
    SQFT
  • $300
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1900
County:

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.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-08-15T20:52:25.087.
www.c21northland.com/homes/127629478
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109 E Front Street , #213 Traverse City, MI 49684

  • Price: $558,000
  • Status: Active
  • On Site: 124 Days
  • Updated: 42 min ago
  • MLS #: 1898462
0
Beds
0
Baths
0
½ Baths
0.44
Acres
1,860
SQFT
$300
$/SQFT
1900
Built
Neighborhood:
Hannah Lay Building
County:
Grand Traverse
Area:
Grand Traverse
Property 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.
Exterior Features

Construction BrickSteel Exterior Features Brick Foundation Poured Concrete Lot Dimensions Condo Parking Off SiteParking GarageStreet Parking Road BlacktopPublic Maintained Roof Membrane

Interior Features

Heating Cooling Type Central AirForced Air

Property Features

Business Incl No Business Name Na Deeded Waterfront No Documents On File None Eco Features No Extras None Heating Cooling Source Natural Gas Included In Lease None Inventory Incl No Licenses None Listing Agreement Type Exclusive Right To Sell Location Corner LotFreestanding Possession At ClosingNegotiable Present Use Medical/DentalOffice Building Real Estate Incl Yes Renewabley N Yes Sale Or Lease For Sale Sale Rent For Sale Section Number 3 Sewer Municipal Terms 1031 ExchangeCashCommercial LoanNet Lease (Nnn) Township Traverse City Type Income Type Of Ownership Private Owner Univs Design Barrier Free ElevatorExtra Wide Hallways Vacant Land No Water Municipal Water Year Remodeled 2019 Zoning CommercialMulti-FamilyOfficeResidential

Listing information © 2022 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. © 2022 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2022-08-15T20:52:25.087.
 
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CENTURY 21 Northland
241 E State Street
Traverse City MI, 49684