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Available For Sale - Office

6,526 SF | Show Pricing $

AVAILABILITY DETAILS

Size
6,526 SF
Price/SF
Show Pricing $
Listing ID
SA395863
Notes
Single tenant professional office building offers an excellent investment opportunity. Stable long-term tenant with a triple net lease expiring at the end of 2022. Priced well below replacement cost and positioned for future growth in the Traverse City area. 9.2% cap rate based on 2021 rent with an additional 4.8% increase in 2022. Constructed to offer future leasing flexibility or ability to sell units individually with five separate office suites. Each suite is separately metered with its own entrance, restroom, kitchenette, and HVAC. Furnace and A/C replaced on 3 of the suites in 2020. Convenient location next to the recently opened PACE North building just off of N Garfield Rd, between S. Airport and Hammond. Located in an Opportunity Zone.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Bill Somerville, Three West Commercial