Description
Super Income Opportunity. This is a 3 building complex with long term leases and quality tenants. Addresses 2040/2062/2084, south of Grand Traverse Mall. Building A (north unit-TAX #28-05-136-001-00) 7,476 gsf, Building B (middle unit Tax # 28-05-136-002-00) 5,760 + 1500 in basement level gsf, Building C (south unit- Tax# 28-05-136-003-00) 7,476 gsf. Hartman Hills complex offers condominium project. Municipal sewer, one well for all 3 buildings. Long term leases with A:MDOT, B: Modern District Financial, C: IRS. Net rental income projected for 2021 is $262,133. Accordingly, the cap rate would be 8%--cost per square foot is well below replacement value. Option I-Bldg B For Sale $750,000. B has an additional 1500 SF finished basement. Option II-A & C Bldgs. For Sale-$ 2,454,600. Master Deed is available. The existing Tower has a permanent easement on property. Please do not enter building without a formal appointment.
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0BEDS
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3.8ACRES
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0BATHS
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01/2 BATHS
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20,712SQFT
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$155$/SQFT
School Ratings & Info
Description
Super Income Opportunity. This is a 3 building complex with long term leases and quality tenants. Addresses 2040/2062/2084, south of Grand Traverse Mall. Building A (north unit-TAX #28-05-136-001-00) 7,476 gsf, Building B (middle unit Tax # 28-05-136-002-00) 5,760 + 1500 in basement level gsf, Building C (south unit- Tax# 28-05-136-003-00) 7,476 gsf. Hartman Hills complex offers condominium project. Municipal sewer, one well for all 3 buildings. Long term leases with A:MDOT, B: Modern District Financial, C: IRS. Net rental income projected for 2021 is $262,133. Accordingly, the cap rate would be 8%--cost per square foot is well below replacement value. Option I-Bldg B For Sale $750,000. B has an additional 1500 SF finished basement. Option II-A & C Bldgs. For Sale-$ 2,454,600. Master Deed is available. The existing Tower has a permanent easement on property. Please do not enter building without a formal appointment.
The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2021 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2021-01-28T07:51:55.02.