Auto Dealership and Service
3566 N US-31 S Traverse City, MI 49684
For Sale
$1,600,000
COMMERCIAL - Traverse City, MI
Property Size13,515 SF
Lot Size1.98 Acres
Price / SF$118.39
Days on Market1381
Property Features for 3566 N US-31 S
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 13,515 SF
- Lot size
- 1.98 Acres
Taxes and HOA fees
- Tax Description
- PRT SW1/4 NE1/4 SEC 16 T27N R11W COM 750.13' S OF NE COR TH S 300.13' TH W 1056.19' TH ON CURVE RIGHT 317.55' (R= 5604.65' CH N 19 DEG 6' E 317.51') TH E 960.9' TO POB.
Listing Agency:
G.A. Snowden Associates
(231) 632-6007
Listed By:
Gerald Snowden · License #6502118151
(231) 932-1700
Added: Oct 13, 2022
Changed: Jul 14
Last Checked: Jul 24 at 6:06PM
MLS# 1867624
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 auto dealership and service building was built in 2001 and totals 13,515 square feet. The space includes a retail showroom, private offices, two restrooms, a conference room, and a lounge. The center portion features storage/parts space, with seven service bays plus three bay oil change area, and an 18' high clear interior height. Additional improvements include a 1,350 square foot basement and a 1,500 square foot mezzanine, along with custom cabinetry and a fireplace.
The property is located in the CH Commercial District and is within an Opportunity Zone. The offering notes it is positioned directly in front of both hotels, with a diagram provided.
Land is also described as being available for sale or build-to-suit, and the listing is offered for sale or lease.
The property is located in the CH Commercial District and is within an Opportunity Zone. The offering notes it is positioned directly in front of both hotels, with a diagram provided.
Land is also described as being available for sale or build-to-suit, and the listing is offered for sale or lease.
Key Highlights
- 13,515 SF auto dealership building built in 2001 in the CH Commercial District
- Sales area includes retail showroom and private offices, plus two restrooms, conference room, and lounge
- Service layout features 7 service bays plus a 3‑bay oil change area, with 18' high clearance
Financial Insights For Industrial
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 | $121.6k | $9.00 |
| − Vacancy | −$9.1k | −$0.68 |
| EGI | $112.5k | $8.33 |
| − OpEx | −$33.8k | −$2.50 |
| NOI | $78.8k | $5.83 |
13,515 SF · lease $9.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.39M
$2.09M – $2.79M
NOI $167,110 @ 7.0% cap · market cap 10.44%
Second Best
Industrial
$1.13M
$984.5K – $1.31M
NOI $78,759 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,514 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar Off Market Nearby
- Muffler Shop & Auto — 2850 N U.S. 31 S, Traverse City, MI 49684
- Think-er Towing Service Traverse City — 3134 horseshoe dr, traverse city, mi 49684
- Belle Tire — 2825 N U.S. 31 S, Traverse City, MI 49684
- Discount Tire — 627 W Front St, Traverse City, MI 49684
- BMW of Traverse City - Service & Parts — 2801 N U.S. 31 S, Traverse City, MI 49684
FAQs
What type of property is this?
Auto shop - A 2001-built auto dealership featuring showrooms, private offices, and service bays with 18' clear height.
Where is this auto shop located?
The property is located at 3566 N US-31 S Traverse City, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 13,515 SF auto dealership building built in 2001 in the CH Commercial District; Sales area includes retail showroom and private offices, plus two restrooms, conference room, and lounge; Service layout features 7 service bays plus a 3‑bay oil change area, with 18' high clearance
