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 well positioned for future growth in the Traverse City area. 8.5% 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. 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.
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