878 Munson AveTraverse City, MI 49686
For Sale
$1,620,000
Fee Simple NNN Lease, High ROI
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 126
Highlights
- Fee-simple, NNN-leased Denny's restaurant in Traverse City, MI. 6,190 SF on 1.26 acres.
- $1,620,000 asking price ($261.71/SF); 6.30% cap rate, $102,060 NOI.
- 11.9 years remaining lease term; two 5-year options with 8% rent increases.
- Prime location in high-tourism area, near hotels and beaches, benefiting from high traffic counts and proximity to Traverse City State Park Beach (almost 400,000 annual visits).
- Below-market rent for casual dining in this Michigan market.
Property Details for 878 Munson Ave
- Property type
- Retail properties, Restaurants
- Square Feet
- 6,190 SF
- Year Built/Renovated
- 1987/2016
- Lot Size (sq. ft)
- 54,886 SF
Location Insight
- City
- Traverse City
- County
- Grand Traverse
- State
- Michigan
- Latitude
- 44.749701081892
- Longitude
- -85.560816439367
878 Munson Ave, Traverse City, Michigan
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - Fee Simple NNN Lease, High ROI
- Where is the retail property located?
- The property is located at 878 Munson Ave Traverse City, MI.
- What is the asking price?
- The asking price for this property is $1,620,000.
- What are key features of this property?
- This property features: Fee-simple, NNN-leased Denny's restaurant in Traverse City, MI. 6,190 SF on 1.26 acres.; $1,620,000 asking price ($261.71/SF); 6.30% cap rate, $102,060 NOI.; 11.9 years remaining lease term; two 5-year options with 8% rent increases.
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