120 S Park Street 120 S. Park Street
Traverse City, MI 49684
MLS #1839689

Commercial
  • 3,500sq ft
$995,000
Est. P&I payment: $3800.23/mo
120 S Park Street 120 S. Park Street, Traverse City, MI 49684
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Description for 120 S Park Street 120 S. Park Street, Traverse City, MI 49684
Location, Location, Location - You can not top this one. Located in the Heart of Traverse City Proper on Park Street, this established "go to" Restaurant location has thrived for over 7 decades. Current tenant lease expires 12-31-2017. Is this the next perfect spot for you to run your own cool eatery? Walking distance to the Park Place, Radio Center, The State Theater, The Bijou, the Opera House - anything downtown - this is the spot. Current tenant has strong positive presence in the community, and great food so the stage has been set for a thriving healthy business. This is a listing for the sale of the building and land only. NOT the current business or equipment. Some equipment may be available and would be negotiated in a separate agreement. If you have been just waiting for the perfect location to this the Market - THIS IS IT! Lease option available $65,900 per year - Triple Net Lease Been thinking of developing a downtown parcel - IT can be whatever you create, currently surrounded by construction, it is ripe for new ideas, and can be taller then one story. Go vertical and increase your opportunities for offices, housing and an eatery, or cute retail space. This is a SWEET Spot - grab it!
MLS #1839689
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My Notes for MLS #1839689

General Features

  • Property Type: Mixed Use
  • Total Finished SqFt: 3,500
  • Number of Acres: 0.17
  • Lot Dimensions: 56' x 132'
  • Approx Year Built: 1956
  • Zoning: Commercial

Exterior Features

  • Parking Spaces: 10
  • Vacant Land: No
  • Roof: Membrane
  • Exterior Features: Block
  • Parking: Paved,​Parking Garage,​Parking Lot,​Street Parking

Interior Features

  • Number of Restrooms: 2

Utilities Features

  • Heating/Cooling Source: Natural Gas
  • Heating/Cooling Type: Forced Air
  • Water: Municipal Water
  • Sewer: Municipal
  • Energy Efficient: Energy Efficient Windows

Financial Features

  • Sale/Rent: For Sale
  • Price Per SQFT: 284.29
  • Sale or Lease: For Sale
  • Summer Taxes: 13,708.36
  • Winter Taxes: 1,224.43
  • Type of Ownership: Corporate Owned
  • Variable Rate: No
  • Total Taxes: 14,932.79
  • Terms: Conventional Mortgage,​Commercial Loan,​Cash,​Net Lease (NNN),​VA,​Owner Assist (L/C),​Rent with Option,​1031 Exchange
  • Included in Lease: None

Community Features

  • Development Name: 2220 Comm - Downtown area

Misc Features

  • Deeded Waterfront: No
  • Business Name: Sorrelina - leasing
  • Year Updated: 2012
  • ECO Features: No
  • Business Included: No
  • Real Estate Included: Yes
  • Inventory Included: No
  • Present Use: Restaurant/Food Service,​Bar
  • Foundation: Partial,​Block,​Finished Rooms
  • Possession: Negotiable
  • Construction: Block,​Steel

Location

 
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Directions to 120 S Park Street 120 S. Park Street, Traverse City, MI 49684
Downtown Traverse City - North of Park Place Hotel on Park Street - adjacent to the alley. 2 blocks South Grand Traverse West Bay.
Listing information for 120 S Park Street 120 S. Park Street, Traverse City, MI 49684 was graciously provided by our friends at the listing brokerage, Keller Williams-Greater GT 534 E Front Street, Traverse City, MI 49686

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P&I Payment $3800.23
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Realty Paramount's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Realty Paramount, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.
Last Updated 12/16/2017 at 7:04pm
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