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707 S Garfield Avenue

Traverse City, MI 49686
  • $2,500,000
  • STATUS: Active
  • ON SITE: 152 Days
  • MLS #: 1887816
$2,500,000
  • 0
    BEDS
  • 0.84
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 4,965
    SQFT
  • $504
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1985
County:

School Ratings & Info

Description

Fantastic opportunity on South Garfield Ave. in the city of Traverse City. This unique parcel is almost an acre in size, with 124' of frontage on S. Garfield Ave., and 297' of depth. The 2 Buildings currently on the parcel are leased, and have 3 tenants. The main building has 2 showrooms and 7 service bays. The second building is a 700 sq. ft. office with waiting room and kitchenette. The property has an excellent lease history. The existing buildings are situated along the Northern lot line, allowing for the bulk of the parcel to be free for development, while the purchaser earns a positive cash ROI from the existing leases. The parcel is zoned C3, allowing for a variety of uses, including Medical Marijuana sales, and likely recreational sales, when the City finalizes their ordinance. This property has excellent exposure and a high traffic count, with S. Garfield Ave. being a main traffic artery.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2021 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2021-10-24T23:51:49.833.
www.boermarealty.com/homes/117572633
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707 S Garfield Avenue Traverse City, MI 49686

  • Price: $2,500,000
  • Status: Active
  • MLS #: 1887816
0
Beds
3
Baths
0
½ Baths
0.84
Acres
4,965
SQFT
$504
$/SQFT
1985
Built
Neighborhood:
Wmk Properties
County:
Grand Traverse
Area:
Grand Traverse
Property Description
Fantastic opportunity on South Garfield Ave. in the city of Traverse City. This unique parcel is almost an acre in size, with 124' of frontage on S. Garfield Ave., and 297' of depth. The 2 Buildings currently on the parcel are leased, and have 3 tenants. The main building has 2 showrooms and 7 service bays. The second building is a 700 sq. ft. office with waiting room and kitchenette. The property has an excellent lease history. The existing buildings are situated along the Northern lot line, allowing for the bulk of the parcel to be free for development, while the purchaser earns a positive cash ROI from the existing leases. The parcel is zoned C3, allowing for a variety of uses, including Medical Marijuana sales, and likely recreational sales, when the City finalizes their ordinance. This property has excellent exposure and a high traffic count, with S. Garfield Ave. being a main traffic artery.
Exterior Features

Construction BlockFrame Exterior Features BrickVinyl Foundation Slab Lot Dimensions 124' X 297' Parking Common Parking Spaces 40 Road Public Maintained Roof Membrane

Interior Features

Heating Cooling Type Forced Air

Property Features

Business Incl No Business Name Land / Building Only Deeded Waterfront No Documents On File LeasesLegal Description Eco Features No Energy Efficient Not Applicable Extras 14Ft Ceiling Height3-Phase ElectricAir CompressorOverhead Door(S)Reinforced Concrete FloorSprinkler System Heat Expannual 0 Heating Cooling Source Natural Gas Included In Lease None Inventory Incl No Lease Expires 2023-05-06 Licenses Special Use Listing Agreement Type Exclusive Right To Sell Location Freestanding Possession At Closing Present Use Automotive ServiceOffice BuildingOther Real Estate Incl Yes Renewable Not Applicable Renewabley N Yes Rent Expannual 0 Rental Incomeannual 73000 Sale Or Lease For Sale Sale Rent For Sale Section Number 2 Sewer Municipal Summer Taxes 13178.63 Taxable Value 261492 Terms CashConventional Mortgage Total Taxes 14283.95 Township Traverse City Type Mixed Use Type Of Ownership Corporate Owned Univs Design Barrier Free Main Floor AccessNo Steps EntryRamped EntranceWidened Doors Vacant Land No Water Municipal Water Water Conservation Not Applicable Winter Taxes 1105.32 Zoning Commercial

Listing information © 2021 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of Social Realty, Llc: 231-392-9445.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2021 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2021-10-24T23:51:49.833.
 
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Boerma Realty, LLC
2008 S Mission St.
Mt. Pleasant MI, 48858