966 W South Airport Road
$569,000
966 W South Airport Road Traverse City, MI 49686
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About this listing
DESCRIPTION
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.
DIRECTIONS
Near the intersection of South Airport & Garfield on the north side towards the airport.
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Building Size
7,380 sqft
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Lot Area
0.56 acres
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Year Built
1967
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MLS ID
1940890
Details
- • 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
Dan Stiebel
CCIM
NAR
SIOR
License #: 6506040160
Coldwell Banker Commercial Schmidt Realtors
Traverse City, MI
