Real Estate For Sale in...
 

102 W Front Street, Traverse City, MI 49684

$3,900,000
Commercial Property MLS# 1836917 ID: 47109768
$3,900,000 Get Rates

Commercial - Traverse City, MI
Great value add investment for this iconic Traverse City landmark on Front Street in downtown. Fifth Third Bank will lease back the first floor, third floor and part of the basement for a 10-year lease. They have just dropped the asking price by $1,600,000 to reflect a lower sale-leaseback rate that is now desired by the bank. With full occupancy, the pro-forma cap rate will be 7.3%. There are 3 other tenants in the building and approximately 35% is vacant and available for lease. The building has four floors, a mezzanine and a full basement. The site is 0.6 acres and has 36 parking spaces on site. The building has incredible views in every direction, overlooking Grand Traverse Bay, the Boardman River and downtown Traverse City. The building is over 100' tall and was built by lumber baron Perry Hannah, the father of Traverse City, and was designed by his son, Julius. The buildings hallmark is the clock tower which has four clock faces that are five feet in diameter each. This is an investment opportunity of a lifetime!

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Location Information near 102 W Front Street
Offered by Dan Stiebel at Coldwell Banker Schmidt REALTORS - Traverse City 522

Would you like more information regarding this property?
Please call (231) 929-2300.

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Property Features for 102 W Front Street
Status
Market Status
Sale Pending
Last Updated
June 15, 2018
Description
Property Type
Commercial Property
Year Built
1903
Approx. Lot Size
0.60 Acres
Sq. Feet
29,383

Listing Features

  • Property Type: Commercial; Commercial
  • Dan Stiebel
  • Coldwell Banker Schmidt REALTORS - Traverse City 522

Data Provided by:
Coldwell Banker Schmidt REALTORS

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More information about this $3,900,000 Commercial Property at 102 W Front Street

This $3,900,000 Commercial Property at 102 W Front Street in Traverse City, MI is presented by Dan Stiebel. This $3,900,000 Commercial Property, located in the 49684 zip code, has the following property features: Property Type. This 102 W Front Street Commercial Property, located in Grand Traverse County , is listed under MLS listing number 1836917 and has a listing price of $3,900,000. You can find more TRAVERSE CITY homes for sale here.