For Sale Expired

250 E Front Street Map / directions

Traverse City, MI

49684

$18,850,000

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  • MLS# 1876685
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800-871-9992

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248-208-3883

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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.

Property Information

Status
Expired 
Address
250 E Front Street 
City
Traverse City 
Zip
49684 
Year Built
1969 
Listing Date
07/02/2020 
County
Grand Traverse 
Possession
At Closing 
Parking
Parking Lot 
Price/SqFt
269.29 

Features

Current Use
Office Building 
Features
Elevator 
Zoning
Commercial 
Water
Municipal Water 
Sub Property Type
Income 
Licenses
None 
Exterior Features
Brick 
Cooling
Central Air, Natural Gas 
Heating
Central Air, Natural Gas 

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years
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  • Property History
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
1876685 Expired Active Jul 3 2021 2:16AM 366
1876685 Active Jul 2 2020 10:33AM $18,850,000 366

Learn More About This Listing

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

800-871-9992

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls and texts at the number you provided, including marketing by voice, and email, from us and others about your inquiry and other home-related matters, but not as a condition of any purchase. You also agree to our Privacy Policy regarding the information relating to you. Msg/data rates may apply.

Listing Broker

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Listing Courtesy of G.a. Snowden Associates
Office Address 125 Park Street Suite 290

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Our Michigan real estate agents can answer all of your questions about 250 E Front Street, Traverse City MI 49684. Real Estate One, Max Broock Realtors, and J&J Realtors are part of the Real Estate One Family of Companies and dominate the Traverse City, Michigan real estate market. To sell or buy a home in Traverse City, Michigan, contact our real estate agents as we know the Traverse City, Michigan real estate market better than anyone with over 100 years of experience in Traverse City, Michigan real estate for sale.

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