116 Boardman AveTraverse City, MI 49684

Property Details for 116 Boardman Ave

Year built

1972

Lot size

0.14 AC

Property size (Sq ft)

1,544 SF

Property type

Office buildings

APN

51-794-128-00

APU

5179412800

Description

This exceptional 3,000 square foot office building, constructed in 1972, presents a fantastic opportunity in the heart of Traverse City, Michigan. Located at 116 Boardman Avenue (APN 28-51-794-128-00), this single-building property boasts a desirable split-level design, perfectly suited for either a single large tenant or multiple smaller occupants. The asking price is $1,100,000. The building offers convenient onsite parking, a significant advantage in a bustling downtown area. Its prime location places it within the same block as the Hardy parking structure, ensuring easy access for clients and employees. A short walk connects the property to a vibrant array of shops, restaurants, and the scenic bay, maximizing its appeal and accessibility. Interior features include five private offices, each with its own private bathroom and shower, a dedicated breakroom, and a spacious open work area, providing flexibility for various business needs. This property represents a compelling investment opportunity in a thriving downtown location with excellent amenities and high visibility. The building's layout and features make it an ideal choice for businesses seeking a prestigious and convenient address in Traverse City. The property is zoned for traditional office use.

• CAP approach

  CAP return

  Valuation

  6%

  $282,001

  6.5%

  $260,308

  7%

  $241,715

• Comparable approach

  Method

  Valuation

  Relative Method

  $201,106

  Geo Method

  $201,106

• Alternative Use

  Use

  Valuation

  Residential

  $322,782

  Hospitality

  $295,667

  Educational

  $245,991

  Medical

  $254,451

  Retail

  $382,653

Location Insight

City

Traverse City

County

Grand Traverse

State

Michigan

Latitude

44.7636

Longitude

-85.6162

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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