966 W South Airport Road, Traverse City, MI 49686
Description
2 tenant investment property on busy South Airport Road near the Traverse City airport. Leases are short-term, so that a buyer could use the property if they want to, however the tenants would like to keep renting, so longer term leases are also a possibility for investors. Current leases are below market providing upside potential for a buyer. Tenants include Boyd Sewing and Top Comics. The Boyd Sewing space has a retail sales area, classroom, loft for additional storage. and living quarters on the second floor with kitchen and full bathroom. Priced to sell at a 8.8% cap rate (based on current rents which are very low and could be raised) and well below assessor's true cash value.
Price & Status History
MLS Listing History1 listing
| Status | List Price | Sale Price | Listed | Sold | Board | |
|---|---|---|---|---|---|---|
| Sold | $549,000 | $534,000 | Dec 1, 2025 | Jun 30, 2026 | NGL | View → |
Property Details
Listed by Daniel J Stiebel
Coldwell Banker Schmidt Traverse City