Sold: 414 Boyne City Avenue Boyne City, MI 49712
MLS: 459746 - $229,000

DOWNTOWN BOYNE CITY! Large 4 unit multifamily investment property is available for sale! Great location in downtown Boyne City! Just a block away are all the shops, restaurants and the marina and the beach is nearby! Could make a great Airbnb property! There are 3 one-bedroom units and one two-bedroom. There is a 2.5 car garage also available for additional storage. (Click here to see all Commercial Real Estate for Sale in Northern Michigan)

Live in one unit and rent the remaining units out! Several units have had recent updates. There is a large fenced in yard your tenants can enjoy. Natural gas has been metered separately. Electric has not. Could easily be metered…

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What Is a NNN (Triple Net Lease)?

A triple net lease (also known as a NNN lease) is a lease agreement in which the tenant or lessee agrees to cover all of the property's expenses, such as real estate taxes, building insurance, and upkeep. These costs are in addition to your rent and utility bills. In ordinary commercial lease arrangements, however, the landlord is usually responsible for some or all of these payments.

Commercial property net leases come in a variety of forms, including NNNs. In a single net lease, tenants must pay property taxes in addition to rent, while a double net lease usually includes property insurance.

Important Takeaways

  • A triple net lease (NNN) requires the tenant to pay all property expenses, including…

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