232 E State St, Unit A

Investment Overview

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.

Investment Highlights

• 10-year NNN lease commenced February 2026
• Two renewal options providing long-term income security
• Newly constructed in 2026 — no capital expenditure anticipated for decades
• 8.6% cap rate — compelling yield in today's market