Steel Warehouse with Oversized
For Sale
$114,900
13972 S Robinson Road, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size800 SF
Price / SF$143.63
Days on Market93
Property Features for 13972 S Robinson Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Manufacture/Warehouse
Exterior features
Aluminum
Lot features
Industrial Park
Directions
Headed West on 72/E Traverse HYW - Complex is on the left just before S. Lautner Rd.
Subdivision
Leelanau
Standard status
Active
Size
800 SF
Taxes and HOA fees
Tax Description
Unit 6 Bob Bobs West Side Storage Condo Sec 35 T28N R12W 0.018 A M/L MD L1180 P813/1st AMEND L1237 P118
HOA Fee
$400 Annually
Legal Description
Unit 6 Bob Bobs West Side Storage Condo Sec 35 T28N R12W 0.018 A M/L MD L1180 P813/1st AMEND L1237 P118
Building Details
Building materials
Steel
Roof type
Metal
Listing Agency:
Monarch Real Estates, LLC
(231) 946-6014
Listed By:
Mary Eckler
(231) 645-8276
Added: Jul 2
Changed: Sep 5
Last Checked: Oct 2 at 9:06AM
MLS# 1947495
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 800-square-foot warehouse includes a 20-by-40-foot storage barn, a private entrance, and off-street parking. The steel structure features aluminum exterior elements and a metal roof, providing a dedicated enclosed space for storage and equipment. A 14-foot garage door accommodates large vehicles, trailers, boats, and RVs.
Electricity is available at the property, with access to water also provided. The association handles snow plowing, supporting year-round access to the site. The property is located at 13972 S. Robinson Road, #6, in Traverse City, Michigan.
Electricity is available at the property, with access to water also provided. The association handles snow plowing, supporting year-round access to the site. The property is located at 13972 S. Robinson Road, #6, in Traverse City, Michigan.
Key Highlights
- 800 square feet of warehouse space
- 20x40 storage barn
- 14ft garage door for large vehicles, trailers, boats, and RVs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$127,320
$127.3K
Cap Rate 7%
$90,943
$90.9K
Cap Rate 9%
$70,733
$70.7K
Market Conditions
NOI Build-Up for 800 SF
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.
Gross rent
$8.0K $9.96/SF
− Vacancy
−$478 −$0.60/SF
EGI
$7.5K $9.36/SF
− OpEx
−$1.1K −$1.40/SF
NOI
$6.4K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$127,320
Cap Rate 7%
$90,943
Cap Rate 9%
$70,733
Alternative Uses
Best Use
Warehouse
$90.9K
$79.6K – $106.1K
NOI $6,366 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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- National Storage — 6400 E Traverse Hwy, Traverse City, MI 49684
Frequently Asked Questions
What type of property is this?
Warehouse - Steel storage warehouse with private access, off-street parking, and utility service.
Where is this warehouse located?
The property is located at 13972 S Robinson Road Traverse City, MI.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: 800 square feet of warehouse space; 20x40 storage barn; 14ft garage door for large vehicles, trailers, boats, and RVs
