1055 Carriage Hill Drive, Traverse City

$595,000

0 Beds
0 Baths
6,526 Sqft
.69 Acres
0 Garages

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.

Essential Information
MLS® #1873783
Price$595,000
Bathrooms0.00
Square Footage6,526
Acres0.69
Year Built1999
TypeCommercial
Sub-TypeIncome, Commercial Sale
StatusActive
Community Information
Address1055 Carriage Hill Drive
Subdivisionnone
CityTraverse City
CountyGrand Traverse
StateMichigan
Zip Code49686
Amenities
FeaturesNone
ParkingParking Lot
Utilities

WATER: Municipal Water SEWER: Municipal

Interior
BasementSlab
Heating

Natural Gas, Forced Air, Central Air

Exterior
Exterior FeaturesWood, Brick
Lot Description150 X 200
RoofAsphalt
ConstructionBrick
Additional Information
Date ListedApril 23rd, 2020
Days on Market36
ZoningCommercial
Listing Details
OfficeThree West, LLC
Office Address1131 E. Eighth Street
Property History
Status Changed from New to Active

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