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 OVERVIEW This quaint Cafe and Bakery is conveniently located on Union Street in the Old Town district of Traverse City, MI, one of the Countries top Foodie Towns. The building has been renovated and is ready for your turn key restaurant/cafe concept. Take advantage of the beautiful Traverse City summers and expand with outdoor seating on the sidewalk. Hagerty Insurance and the Old Town Parking Deck are located only one block away. Patrons can park on the street and employees can park easily in the rear of the building in the private parking lot. You have the option of purchasing the real estate along with the fixtures, furnishings and 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 a minimum of a three year lease. The name is not being sold in the transaction. A list of FFE 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: $58,500 3 YEAR NNN LEASE: - 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 7TH STREET 408 S Union St | Traverse City, MI 49684