Downtown Office Suite with Private
101 Park Street Traverse City, MI 49684
101 Park Street, Traverse City, MI, 49684
$1,850,000
For Sale
$1,850,000
COMMERCIAL - Traverse City, MI
Property Size6,028 SF
Price / SF$306.90
Days on Market26
Property Features for 101 Park Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Parking features
- Offsite
- Exterior features
- Brick
- Standard status
- Active
- Size
- 6,028 SF
Taxes and HOA fees
- Tax Description
- Lengthy legal see attached
Building Details
- Building materials
- Brick, Steel
- Roof type
- Membrane
Listing Agency
REMAX Bayshore - West Shore Dr TC
(231) 941-4500
12930 S West Bay Shore Dr, Traverse City, MI
Listed by
BJ Brick · License #6501378609
(231) 883-7570
Added: Jun 23 Checked: Jul 18 at 5:06 am
MLS# 1947025
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale office suite totals 6,028 rentable square feet and includes 12 private offices plus a dedicated mail room. The layout also features a generous open area that can be used as a conference room, collaborative workspace, or converted into additional offices. A coffee sink is built into the suite, and common restrooms are located near the elevator. The suite includes 561 square feet of pro-rated common area.
The property is located at 101 Park Street in downtown Traverse City, and the suite is described as overlooking the Boardman River and Grand Traverse Bay. Building access includes a keycard, smartphone, or hardwire system throughout, along with an access-controlled elevator and stair entry. Security is provided via 60-day loop cameras.
The configuration is well-suited for professional service tenants seeking multiple enclosed offices alongside an adaptable common work area. For buyers or operators with space-flexibility in mind, the suite can also be subdivided into units as small as 2,160 square feet, supporting different office-size needs within the same overall premises.
The property is located at 101 Park Street in downtown Traverse City, and the suite is described as overlooking the Boardman River and Grand Traverse Bay. Building access includes a keycard, smartphone, or hardwire system throughout, along with an access-controlled elevator and stair entry. Security is provided via 60-day loop cameras.
The configuration is well-suited for professional service tenants seeking multiple enclosed offices alongside an adaptable common work area. For buyers or operators with space-flexibility in mind, the suite can also be subdivided into units as small as 2,160 square feet, supporting different office-size needs within the same overall premises.
Key Highlights
- 5,467 SF office suite with 12 private offices and an open area for a conference room, collaborative workspace, or additional offices
- Suite includes a dedicated mail room and a coffee sink built into the suite
- Access and security include 60‑day loop cameras plus an access‑controlled elevator and stair entry
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.3k | $16.80 |
| − Vacancy | −$15.2k | −$2.52 |
| EGI | $86.1k | $14.28 |
| − OpEx | −$21.5k | −$3.57 |
| NOI | $64.6k | $10.71 |
6,028 SF · lease $16.80/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$922.3K
$807.0K – $1.08M
NOI $64,560 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,664 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Grand Traverse Pie ...
Restaurant
4Front Credit Union
Credit Union
INTELLEBYTE
Consultant
INCTech - Traverse City
Tech Support Center
Sleeping Bear Experiences
Travel Agency
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FAQs
What type of property is this?
Office units - Office suite with 12 private offices and flexible open space, supported by access-controlled entry and security features.
Where is this office units located?
The property is located at 101 Park Street Traverse City, MI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,467 SF office suite with 12 private offices and an open area for a conference room, collaborative workspace, or additional offices; Suite includes a dedicated mail room and a coffee sink built into the suite; Access and security include 60‑day loop cameras plus an access‑controlled elevator and stair entry
