retail/restaurant property for sale 408 s union st€¦ · kevin endres, pe // owner | broker //...
TRANSCRIPT
executive summary
RETAIL/RESTAURANT PROPERTY FOR SALE
408 S Union St
KEVIN ENDRES, PE | Owner | Broker | 231.929.2955 | [email protected]
www.threewest.com
PROPERTY OVERVIEWThis quaint Cafe and Bakery is conveniently located on Union Street in the Old Towndistrict of Traverse City, MI, one of the Countries top Foodie Towns. The building hasbeen renovated and is ready for your turn key restaurant/cafe concept. Take advantageof the beautiful Traverse City summers and expand with outdoor seating on thesidewalk. Hagerty Insurance and the Old Town Parking Deck are located only one blockaway. Patrons can park on the street and employees can park easily in the rear of thebuilding in the private parking lot.
You have the option of purchasing the real estate along with the fixtures, furnishingsand equipment for the lump sum price of $329,000 or just purchase the fixtures,furnishings and equipment from the owner for $58,500 and lease the property for aminimum of a three year lease. The name is not being sold in the transaction. A list ofFFE can be provided upon request.
PROPERTY HIGHLIGHTS
▪ Great Location in Old Town District
▪ Turn-Key Restaurant/Cafe
▪ Established Customer Base
REAL ESTATE & FFE SALE PRICE: $329,000
FFE SALE & LEASE PRICE
FFE: $58,5003 YEAR NNNLEASE:- 1ST YR: $2,600/MTH- 2ND YR: $2,800/MTH- 3RD YR: $3,000/MTH
LOT SIZE: 0.08 ACRES
BUILDING SIZE: 1,232 SF
YEAR BUILT: 1900
RENOVATED: 2010
MARKET: OLD TOWN
CROSS STREETS:S UNION AND 7THSTREET
408 S Union St | Traverse City, MI 49684
KEVIN ENDRES, PE // Owner | Broker // 231.929.2955 // [email protected]
www.threewest.com
additional photos
408 S Union StRETAIL/RESTAURANT PROPERTY FOR SALE
KEVIN ENDRES, PE // Owner | Broker // 231.929.2955 // [email protected]
www.threewest.com
aerial maps
408 S Union StRETAIL/RESTAURANT PROPERTY FOR SALE
KEVIN ENDRES, PE // Owner | Broker // 231.929.2955 // [email protected]
www.threewest.com
POPULATION 1 MILE 5 MILES 10 MILES
Total population 3,422 36,594 69,766
Median age 38.1 40.6 41.0
Median age (Male) 36.1 38.1 39.0
Median age (Female) 42.5 43.6 43.3
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 1,603 16,728 29,715
# of persons per HH 2.1 2.2 2.3
Average HH income $59,304 $56,397 $61,429
Average house value $222,925 $238,730 $236,282
* Demographic data derived from 2010 US Census
demographics map & report
408 S Union StRETAIL/RESTAURANT PROPERTY FOR SALE