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    • Brokers

    Bill Somerville, Traverse City, MI

    Three West Llc
    Years of Experience
    8
    Association
    Traverse Area Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (231) 620-2128
    Office Address:
    1131 E 8th St, Traverse City, MI, 49686

    Property Types

    • Commercial Sale

    Performance

    Listings
    1
    Total transactions
    36
    Total transactions amount
    $13M
    Price range
    $241k - 542k
    Average price
    $361k

    Listings

    For Sale (1)

    View map
    • $1,295,000
      13,500 SF

      Lake Leelanau Mini-Storage Facility

      90-unit self-storage facility with expansion potential in Leelanau County.
      7338 E Duck Lake Rd, Lake Leelanau, MI 49653
      View Details

    Leases and Sales on Map

    • For Sale

    Properties for sale

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    Bill Somerville, Traverse City, MI
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Bill Somerville, Traverse City, MI
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