$5,500,000

MLS 1836917
102 W Front Street Traverse City, MI 49684  
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This iconic Traverse City landmark stands 100' tall and has been a symbol of downtown Traverse City for over 100 years. It is being offered for sale as a fully leased investment opportunity with a 7.34% cap rate. Fifth Third Bank will lease back approximately 1/2 the building for a 10 year lease, there are 3 other tenants in the building, and the bank will also lease the remaining space for 2 years while a new owner finds long term tenants for these spaces. The building was built by lumber baron Perry Hannah, the “father” of Traverse City, and was designed by his son, Julius. The building’s hallmark is the clock tower which has four clock faces that are five feet in diameter each. The building has four floors, a mezzanine and a full basement. The site is 0.6 acres and has 36 parking spaces on site. The building has incredible views in every direction, overlooking Grand Traverse Bay, the Boardman River and downtown Traverse City. This is an investment opportunity of a lifetime!
Price $5,500,000 County: Grand Traverse Zoning:  Office,Retail,Commercial,Restaurant/Food
Area: Grand Traverse Waterfront Feet: 0 Sewer: Municipal
Lake/River:  Lot Size: 139 x 188 Heat: Forced Air,Central Air
Township: Traverse City Water: Municipal Water Acres: 0.60

 
For more information contact:
Michael Fagerman
231-920-8970

Copyright 2014 Northern Great Lakes Realtor MLS (NGLR)
Listing provided by NGLR Association of Realtors, database last updated Friday January 19, 2018
 
Direct Link:  http://www.cmiaridx.com/RETS/idx/cadillacrealty/commercial/index.php?view=1836917