Rare Outlot/Ground Lease Opportunity

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Rare Outlot/Ground Lease Opportunity

Type: Lease

2750 US-31 Traverse City MI Grand Traverse

Property Type: Freestanding

Date Available: Fall 2017

Rent: $160,000.00/year

Contact Person(s): Michael Lippitt

(248) 488-2620

Description:

This outlot property is strategically located on the east side of US-31 South in the heart of Traverse City’s vibrant retail/restaurant corridor. The property is situated just north of Grand Traverse Mall (Macy’s, JCPenney, TJ Maxx, Target, Dunham’s) and is literally surrounded by the area’s best retailers including, but not limited to, Sam’s Club, Best Buy, Meijer, Lucky’s Market, Carmike Cinemas, Bed Bath & Beyond, Michaels, Kohl’s, Gander Mountain, ABC Warehouse and Lowe’s. This trade area serves over 20 counties in northern lower Michigan in an underserved trade area that exceeds over 230,000 people. The Grand Traverse region also benefits from over 2.1M tourists annually and 117,000 seasonal residents who flock to the Midwest’s most popular vacation/recreational area. The site is 1.94 acres with over 264’ of road frontage. The site is for ground lease only and is ideal for national, high volume restaurant or retail chains seeking the highest profile location in the Grand Traverse area.

Property Taxes: TBD

Lot Size: 1.94 acres

Lot Dimensions: 264' x 485'/305'

Zoning: C-G General Commercial

Improvements: Existing 11,800 SF to be demolished by Lessee

Anchors: Adjacent to Olive Garden

Demographic Info:

Radius: 5 Mile 10 Mile 20 Mile 30 Mile
Population Density: 46,070 83,945 128,169 174,599
Avg. HH Income: $69,281 $74,445 $74,011 $70,223

LANDMARK COMMERCIAL REAL ESTATE SERVICES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.