232 E State St, Unit A
$950,000
232 E State St, Unit A, Traverse City, MI 49684
For Sale
Office
Building
Active
Last Updated: 07/06/2026
2,270 sqft
Building Size
0.14 acres
Lot Area
Details:
Building Size: 2,270 sqft
Lot Area: 0.14 acres
Class: A
Year Built: 2025
Highlights:
- 10-year NNN lease commenced February 2026
- Two renewal options providing long-term income security
- Newly constructed in 2026 — no capital expenditure anticipated for decades
- 8.6% cap rate — compelling yield in today's market
Description:
A rare opportunity to acquire a brand-new, Class A commercial condo in the heart of downtown Traverse City — fully occupied by a creditworthy financial institution tenant on a 10-year triple-net lease with two renewal options. Completed in February 2026, this purpose-built, ground-floor unit delivers immediate, stable cash flow with minimal landlord obligations and zero deferred maintenance, making it an ideal passive investment or 1031 exchange placement. Financials available with a signed NDA and proof of funds.
South side of E State St between Cass St and Park St.
Documents:
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Location
Gallery
