$305,000
$320,000
4.7%For more information regarding the value of a property, please contact us for a free consultation.
5,000 SqFt
SOLD DATE : 09/09/2021
Key Details
Sold Price $305,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $61
MLS Listing ID 78001328752
Sold Date 09/09/21
Originating Board Aspire North REALTORS®
Year Built 1994
Lot Size 1.950 Acres
Acres 1.95
Lot Dimensions 1343 X 63
Property Description
Single tenant Boyne City office building in business park setting offers an excellent investment opportunity with an 8% cap rate. Longer term upside with current rents well below market. Stable long-term tenant with a lease expiring 9/30/21 and two options to renew for one year each. List price well below replacement cost and assessed value. On a 2 acre parcel with room to expand or add another building with potential for lot split. Includes three restrooms, full kitchen, washer/dryer hookup, and covered driveway entrance. Works well for future office, medical, daycare, church, community center or similar uses. If needed, building could readily be split into two tenant spaces. Regional Commercial/Industrial District zoning allows for variety of uses including retail and restaurant with drive-through allowed.
Location
State MI
County Charlevoix
Area Boyne City
Zoning Commercial
Interior
Heating Forced Air, Central Air
Heat Source Natural Gas
Exterior
Roof Type Asphalt
Accessibility Disabled Access
Building
Foundation Slab
Sewer Septic Tank (Existing)
Water Public (Municipal)
Structure Type Frame,Vinyl
Others
Tax ID 05133616325
Ownership Private Owned
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Unknown/Data Share Listings
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