- For Sale $950,000
- Property Type Office - General Office
- Property Size 2,270 SF
- Lot Size 0.14 Acre
- Building Class A
- Year Built 2025
- Date Updated Jul 6, 2026
Description
South side of E State St between Cass St and Park St.A rare opportunity to acquire a brand-new, Class A commercial condo in the heart of downtown Traverse City — fully occupied by a creditworthy financial institution tenant on a 10-year triple-net lease with two renewal options. Completed in February 2026, this purpose-built, ground-floor unit delivers immediate, stable cash flow with minimal landlord obligations and zero deferred maintenance, making it an ideal passive investment or 1031 exchange placement. Financials available with a signed NDA and proof of funds.
Highlights
- 10-year NNN lease commenced February 2026
- 8.6% cap rate — compelling yield in today's market
- Newly constructed in 2026 — no capital expenditure anticipated for decades
- Two renewal options providing long-term income security
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Contacts
Kevin Endres, PE, SIOR, CCIM
Three West Commercial
Location
Contact Listing Broker
Kevin Endres, PE, SIOR, CCIM
Three West Commercial
