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Listed by Coldwell Banker Schmidt Traverse City
$3,950,000
Est. payment /mo
2 Baths
58,960 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active U/C Taking Backups
Purchase Type For Sale
Square Footage 58,960 sqft
Price per Sqft $66
MLS Listing ID 1943241
Year Built 1953
Lot Size 3.460 Acres
Acres 3.46
Property Sub-Type Industrial
Property Description
100% leased industrial/warehouse building with 5 tenants. Well located building near the corner of S. Airport and Cass Street. Offered at an 8.5% Cap rate with upside potential in the lease rates. Owner would vacate their unit, freeing up 15,000 - 24,000 SF, if buyer wanted to use part of the building. Sale includes 2 parcels totaling 3.4 acres.
Location
State MI
Interior
Heating Forced Air, Space Heater, Natural Gas
Exterior
Waterfront Description Public
Roof Type Membrane
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Others
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456