250 Front Street, Traverse City

$18,850,000

0 Beds
0 Baths
70,000 Sqft
.76 Acres
0 Garages

COMPLETELY RENOVATED IN 2018 - new lobby, roof, windows, doors, HVAC, electrical, plumbing, security system and landscaping - new addition completed in 2019 - back up generator CREDIT TENANTS 9-10 years remain on Triple Net Leases with rent escalators and options to renew - Hagerty Insurance - Chase Bank - Sorrelina NOI $1,312,469/7% CAP Rate PRIME LOCATION - located on main downtown corridor offering prime visibility and access - across from public parking deck - 25 onsite parking spaces - ATM on site Terms of sale are: Assumption of non-recourse CMBS loan to qualified borrower, fixed rate 5.29% thru 9/29/2029, loan balance approximately $11,300,000 as of 7/1/2020. Or, if Buyer prefers other bank financing (or cash), Buyer shall pay defeasance fee on Seller's existing loan.

Essential Information
MLS® #1876685
Price$18,850,000
Bathrooms0.00
Square Footage70,000
Acres0.76
Year Built1969
TypeCommercial
Sub-TypeIncome, Commercial Sale
StatusActive
Association250 Front
Community Information
Address250 Front Street
Subdivision250 Front
CityTraverse City
CountyGrand Traverse
StateMichigan
Zip Code49684
Amenities
FeaturesElevator
ParkingParking Lot
Utilities

WATER: Municipal Water SEWER: Municipal

Interior
HeatingNatural Gas, Central Air
Has BasementYes
BasementFull
Exterior
Exterior FeaturesBrick
Lot Descriptionirregular
WindowsEnergy Efficient Windows
RoofMembrane
ConstructionSteel
Additional Information
Date ListedJuly 2nd, 2020
Days on Market282
ZoningCommercial
Listing Details
OfficeG.A. Snowden Associates
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The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX) (989-732-8226) . Real estate listings held by brokerage firms other than Brook Walsh Real Estate are marked with the WWLX logo and the detailed information about said listing includes the listing office.

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor Brook Walsh Real Estate shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Water Wonderland MLS, Inc © All rights reserved.

WWLX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing information last updated on December 31st, 1969 at 7:00pm EST.

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