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    232 E State St Traverse City, MI 49684

    For Lease
    $24 SF/Yr ($5,698 /Mo)

    Commercial

    Property size:
    2,849 SF
    Lot size:
    0.16 Acres
    Days on Market:
    169
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 232 E State St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Size
    2,849 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Roof type
    Membrane
    Architectural style
    Other

    Three West, LLC (231) 929-2955 [email protected]

    Listing agent Kevin Endres (231) 929-2955

    Listing date Jun 20, 2025

    MLS# 1930412 Listing URL

    Copyright © 2025 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.

    Overview

    Downtown Traverse City Retail/Office Condo

    This commercial condominium, located in downtown Traverse City, Michigan, offers 2,849.4 square feet of space suitable for retail or professional office use. Constructed in 2025, the property provides a canvas for businesses seeking to establish themselves in a dynamic area. The property is situated in a commercial zone and has high visibility, presenting an opportunity to capitalize on the Traverse City landscape. The lot size is 0.16 acres.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

    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
    -85.619517
    Latitude
    44.762601

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    FAQs

    What type of property is this?
    Retail space - New commercial condo in downtown Traverse City, ideal for retail/office.
    Where is this retail space located?
    The property is located at 232 E State St Traverse City, MI.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: - Prime downtown Traverse City location.; - Newly constructed in 2025.; - Versatile space suitable for retail or office use.
    (231) 929-2955
    Request Owner's contact information
    232 E State St Traverse City, MI 49684
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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.

    More about this property
    232 E State St Traverse City, MI 49684
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