$1,900,000
$1,900,000
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24,711 SqFt
SOLD DATE : 11/22/2022
Key Details
Sold Price $1,900,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 24,711 sqft
Price per Sqft $76
MLS Listing ID 78080000464
Sold Date 11/22/22
Originating Board Aspire North REALTORS®
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
Zoning Commercial
Interior
Heating Forced Air, Central Air
Heat Source Natural Gas
Exterior
Waterfront no
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Steel
Others
Tax ID 280501402900
Ownership Private Owned
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Financing Cash,Other
Special Listing Condition Unknown/Data Share Listings
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Bought with Three West, LLC
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Managing Partner | License ID: 6506046014
280 North Old Woodward Avenue, Suite 100, Birmingham, MI, 48009, United States