966 W South Airport Road
$569,000
966 W South Airport Road, Traverse City, MI 49686
7,380 sqft
Building Size
0.56 acres
Lot Area
Details:
Highlights:
- Exterior Description: Concrete Block
- Water: Municipal Water
- Heating Fuel Type: Gas
- Road Type: City / Town Street
- Roof: Asphalt Shingle Roof
- Cooling: Central A/C
- Heating Type: Forced Air
Description:
Near the intersection of South Airport & Garfield on the north side towards the airport.
2 tenant investment property on busy South Airport Road near the Traverse City airport. Leases are short-term, so that a buyer could use the property if they want to, however the tenants would like to keep renting, so longer term leases are also a possibility for investors. Current leases are below market providing upside potential for a buyer. Tenants include Boyd Sewing and Top Comics. The Boyd Sewing space has a retail sales area, classroom, loft for additional storage. and living quarters on the second floor with kitchen and full bathroom. Priced to sell at a 7.7% cap rate (based on current rents which are very low and could be raised) and well below assessor's true cash value.
Listing ID: e3cc3c70-52b2-421d-9f5d-4a5b1fcb8ab6
Location
Gallery
