Historic Standalone Retail
601 Randolph Street Traverse City, MI 49684
601 Randolph Street, Traverse City, MI, 49684
$1,400,000
For Sale
$1,400,000
COMMERCIAL - Traverse City, MI
Property Size3,250 SF
Lot Size0.06 Acres
Price / SF$430.77
Days on Market530
Property Features for 601 Randolph Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Parking
- 4
- Parking features
- Assigned
- Exterior features
- Wood, Brick
- Standard status
- Active
- Size
- 3,250 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Description
- LOT 12 ALSO E 1 FT OF LOT 11 BLK 2 HANNAH LAY & CO'S 4TH ADD
- Tax Annual Amount
- 13986
Building Details
- Building materials
- Brick, Block
- Roof type
- Membrane
Listing agency
Key Realty One-TC
(517) 827-2120
Listed by
Tammy Jarvis · License #6501424501
(231) 342-9937
Added: Feb 8, 2025 Updated: Jul 14 at 5:15AM Checked: Jul 23 at 10:06AM
MLS# 1930733
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 historic, stand-alone brick building dating to the 1800s includes main-floor commercial space along with two one-bedroom apartments. The property is currently arranged to support retail operations on the main level while also providing residential units within the same building.
The building is located at the West End Beach with a deeded scenic easement of West Bay. It extends to the alley, offering two parking spots or the opportunity to build out further using the alley portion.
The listing is for the building and property only and does not include any business operations or equipment. The property is offered as a mixed-use building with both storefront space and apartment units.
The building is located at the West End Beach with a deeded scenic easement of West Bay. It extends to the alley, offering two parking spots or the opportunity to build out further using the alley portion.
The listing is for the building and property only and does not include any business operations or equipment. The property is offered as a mixed-use building with both storefront space and apartment units.
Key Highlights
- Stand‑alone brick building dating to the 1800s with wood and brick exterior
- Main floor houses Bay Bread Company plus two one‑bedroom apartments
- Deeded scenic easement of West Bay
Local Financial Insights For Specialty Retail
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 | $61.6k | $18.96 |
| − Vacancy | −$3.7k | −$1.14 |
| EGI | $57.9k | $17.82 |
| − OpEx | −$14.5k | −$4.46 |
| NOI | $43.4k | $13.37 |
3,250 SF · lease $18.96/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$620.6K
$543.0K – $724.0K
NOI $43,442 @ 7.0% cap · market cap 3.10%
Second Best
Retail
$574.1K
$502.3K – $669.8K
NOI $40,186 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$706.0K
$617.8K – $823.7K
NOI $49,421 @ 7.0% cap · market cap 3.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bay Bread Company
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Darling Botanical Company — 144 Hall St, Traverse City, MI 49684
- The Flower Station — 341 W Front St, Traverse City, MI 49684
FAQs
What type of property is this?
Storefront property - Historic brick building with main-floor retail space and two one-bedroom apartments, plus alley access for parking.
Where is this storefront property located?
The property is located at 601 Randolph Street Traverse City, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Stand‑alone brick building dating to the 1800s with wood and brick exterior; Main floor houses Bay Bread Company plus two one‑bedroom apartments; Deeded scenic easement of West Bay
