250 Front

Office: Mixed Use

250 E Front St, Traverse CityMI 49684

Property Details

Location

Address
250 E Front St, Traverse CityMI 49684
County
Grand Traverse
Submarket
Parcels
51-794-077-30

Building Size

Building Size
Rentable Space
68,000 SF

Building Details

Type
 Office: Mixed Use
Number of Buildings
1
Occupancy Type
Single Tenant
Percent Occupied
Building Class
A
Building Status
Existing
Floors
4
Year Built
1969
Year Renovated
2018
Sprinklers
Total Parking
25
Parking Ratio

Land & Utilities

Land (Acres)
0.76 Acres
Land (SF)
33,106 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
Lot Depth
Lot Width

Contacts

Current Listings

250 Front

68,000 SF$18,850,000
Cap Rate: 7%

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

-25 on site parking spaces

-ATM on site

Terms of sale are: Assumption o f 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.

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

-25 on site parking spaces

-ATM on site

Terms of sale are: Assumption o f 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.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: CPIX

More Information

©Copyright 2001-2021 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither CPIX nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.