Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    216 E Front St Traverse City, MI 49684

    Sponsored
    For Lease
    $725 /Mo ($31 SF/Yr)

    Office Building - Traverse City, MI

    Property size:
    272 SF
    Lot size:
    0.10 Acres
    Days on Market:
    257
    Last Refresh:
    Jan 21 at 12:06 am

    Property Features for 216 E Front St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Office,Commercial
    Rooms
    Basement, Bathroom 1, Bathroom 2
    Bathrooms
    2
    Basement Y/N
    1
    Size
    272 SF
    Lot size
    0.10 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1898
    Building materials
    Brick
    Roof type
    Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Sam Abood

    Five Star Real Estate - Front St TC (231) 778-1200 [email protected]

    Listing agent Sam Abood (231) 778-1200

    Listing date May 10, 2025

    MLS# 1933153 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Downtown Traverse City Office Space

    Available for lease is a renovated office space located in downtown Traverse City. The suite, identified as Suite 203, is situated on the upper floor and includes two rooms. The layout features a smaller waiting or reception area with a solid door leading to the hallway, and a main office accessible through a French glass door. The interior is characterized by freshly painted walls and windows that provide natural light. The rent covers the costs of electricity, central air conditioning, and natural gas heat. Tenants are responsible for their own trash disposal and phone/computer services. Shared kitchenette, restrooms, and hallway are nicely finished. Access is provided by a wide staircase to Front Street and a rear staircase to the alley. A minimum lease term of one year is required. The property is zoned for office and commercial use. The property size is 272 square feet and the lot size is 0.1 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Diamond Group Marketing ... Marketing Agency DVE Building and Development Real Estate Developer Adam Kay Group Employment Agency

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.620218
    Latitude
    44.763859

    Nearby Similar for Lease

    • New
      $9,562 /Mo
      9,562 SF

      Contemporary Office Space For Lease

      Contemporary office space with kitchen, breakroom, patio, and ample parking.
      1610 Barlow St, Traverse City, MI 49686
      View Details
    • $7,700 /Mo
      5,133 SF

      Spacious Restaurant/Bar in Busy Complex

      High-traffic restaurant/bar with liquor license and event space for rent.
      851 S Garfield Ave, Traverse City, MI 49686
      View Details
    • $1,295 /Mo
      850 SF

      Downtown Traverse City Office Space

      Renovated office space with original brick walls and high ceilings.
      216 E Front St, Traverse City, MI 49684
      View Details
    • $7,438 /Mo
      3,500 SF

      Downtown Traverse City Commercial Building

      Versatile commercial building in downtown Traverse City, suitable for various uses.
      120 Park St, Traverse City, MI 49684
      View Details
    • $14 SF/Yr
      2,600 SF

      Traverse City Commercial Space Available

      Commercial space near downtown Traverse City with parking.
      226 E 16Th St, Traverse City, MI 49684
      View Details
    • $895 /Mo
      843 SF

      Traverse City Commercial Space For Lease

      Unique opportunity in a cooperative environment with vibrant modern business setting.
      7738 N Long Lake Rd, Traverse City, MI 49685
      View Details
    • $6,000 /Mo
      20,311 SF

      Traverse City Warehouse and Service

      19,481 SF building with storage and service areas.
      16961 Center Rd, Traverse City, MI 49686
      View Details
    • $780 /Mo
      490 SF

      Traverse City Flex Space Available

      Commercial space for lease near downtown Traverse City, Michigan.
      1610 Barlow St, Traverse City, MI 49686
      View Details
    • $2,500 /Mo
      1,000 SF

      Traverse City Warehouse with Coolers

      Food storage warehouse with coolers for lease in Traverse City.
      1610 Barlow St, Traverse City, MI 49686
      View Details
    • $2,800 /Mo
      1,000 SF

      Traverse City Food Freezer Space

      Food freezer warehouse space for lease in Traverse City.
      1610 Barlow St, Traverse City, MI 49686
      View Details
    • $1,000 /Mo
      1,000 SF

      Traverse City Warehouse Space Available

      Warehouse space for lease in Traverse City, Michigan.
      1610 Barlow St, Traverse City, MI 49686
      View Details
    • $1,499 /Mo
      1,000 SF

      Professional Office Space For Rent

      Professional office space in central Traverse City location for rent.
      2240 South Airport Rd, Traverse City, MI 49684
      View Details

    FAQs

    What type of property is this?
    Office space - Renovated office space in downtown Traverse City for lease.
    Where is this office space located?
    The property is located at 216 E Front St Traverse City, MI.
    What is the lease rate?
    The lease rate is $31 SF/Yr.
    What are key features of this property?
    This property features: - Renovated office space in a desirable downtown location.; - Rent includes electric, central air, and natural gas heat.; - Two rooms: a main office with a French glass door and a waiting/reception area.
    (231) 218-5130
    Request Owner's contact information
    216 E Front St Traverse City, MI 49684
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    216 E Front St
    Traverse City, MI 49684
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

    More about this property
    216 E Front St Traverse City, MI 49684
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sam Abood
    Real Estate License ID: 6504216686
    (231) 218-5130
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.