274 US-31 Traverse City, MI 49685

Building Details

Year Built

1983

Listing office Three West LLC d***@threewest.com Show Phone

Listing date Jan 12, 2024

Source Crexi

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Investment Insights

Based on property information with market context.

This highly visible retail building is situated on a 2.89-acre parcel with 414 feet of frontage on US 31 South and 304 feet on Sundowner Drive. The building offers 7,104 square feet of retail space with an additional 1,146 square feet on the second level, totaling 8,250 square feet. It features four 14’ x 14’ overhead doors in the rear and a 16’ ceiling height. Mezzanine offices overlook the sales floor. The property has been remodeled and provides ample parking with space for outside display. Located on US 31 South, the property benefits from high traffic, with 24,758 cars per day recorded in 2022. The property is currently leased to two tenants, generating an annual rental income of $158,244 NNN. One tenant is leaving, and the other can be moved, making the property ready for a new tenant or owner-occupied use.

Key Highlights

• High‑visibility location with 414 feet of frontage on US 31 South and 304 feet on Sundowner Drive.
• Significant income potential: Currently leased for $158,244 NNN annually.
• Large 8,250 Sq Ft retail building with remodeled interior.

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FAQs

What type of property is this?

Retail space - Highly visible retail building with frontage on US-31.

Where is this retail space located?

The property is located at 274 US-31 Traverse City, MI.

What is the asking price?

The asking price for this property is $1,985,000.

What are key features of this property?

This property features: High‑visibility location with 414 feet of frontage on US 31 South and 304 feet on Sundowner Drive.; Significant income potential: Currently leased for $158,244 NNN annually.; Large 8,250 Sq Ft retail building with remodeled interior.