Log-Sided Single-Story Office
1499 Business Park Drive Traverse City, MI 49686
New
1499 Business Park Drive, Traverse City, MI, 49686
$875,000
For Sale
$875,000
COMMERCIAL - Traverse City, MI
Property Size5,000 SF
Lot Size4.55 Acres
Price / SF$175
Days on Market5
Property Features for 1499 Business Park Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Parking features
- Parking Lot
- Exterior features
- Log Siding, Stone
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 4.55 Acres
Taxes and HOA fees
- Tax Description
- Lengthy see documents.
Building Details
- Building materials
- Frame
- Roof type
- Asphalt
Listing Agency
Three West, LLC
(231) 929-2955
1131 E Eighth Street, Traverse City, MI
Listed by
Kevin Endres · License #6505352968
(231) 534-5225
Added: Jul 13 Checked: Jul 17 at 9:06 pm
MLS# 1947937
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.
1499 Business Park Drive is a 5,000-square-foot, single-story log-sided office building built in 2003 and maintained in move-in-ready condition. The interior includes a dramatic vaulted-ceiling gathering room with knotty pine finishes, multiple private offices, a full kitchen, and expansive multipurpose and recreation rooms, along with ample paved parking.
The property is located in East Bay Township, minutes from downtown Traverse City, and sits on 4.55 wooded acres. Zoned Industrial within the Business Park corridor, the building supports a range of professional and institutional uses.
With its single-level layout and flexible common areas, the space can accommodate organizations seeking both private office space and larger rooms for meetings or activities. Recently installed mechanical systems were noted as completed in 2024.
The property is located in East Bay Township, minutes from downtown Traverse City, and sits on 4.55 wooded acres. Zoned Industrial within the Business Park corridor, the building supports a range of professional and institutional uses.
With its single-level layout and flexible common areas, the space can accommodate organizations seeking both private office space and larger rooms for meetings or activities. Recently installed mechanical systems were noted as completed in 2024.
Key Highlights
- 5,000 SF single‑story log‑sided office building built in 2003
- Set on 4.55 wooded acres in East Bay Township, just minutes from downtown Traverse City
- Recently installed mechanical systems in 2024
Local Financial Insights For Healthcare Medical
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 | $130.2k | $26.04 |
| − Vacancy | −$11.1k | −$2.21 |
| EGI | $119.1k | $23.83 |
| − OpEx | −$47.7k | −$9.53 |
| NOI | $71.5k | $14.30 |
5,000 SF · lease $26.04/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.02M
$893.5K – $1.19M
NOI $71,480 @ 7.0% cap · market cap 8.17%
Second Best
Office B
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Traverse City Service ...
Charitable Organization
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FAQs
What type of property is this?
Office building - Single-story office building with vaulted gathering room, multiple offices, kitchen, and paved parking on 4.55 wooded acres.
Where is this office building located?
The property is located at 1499 Business Park Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 5,000 SF single‑story log‑sided office building built in 2003; Set on 4.55 wooded acres in East Bay Township, just minutes from downtown Traverse City; Recently installed mechanical systems in 2024
