Second-Floor Office
For Sale
$479,000
10161 E Pickwick Court, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size2,843 SF
Lot Size0.06 Acres
Price / SF$168.48
Days on Market315
Property Features for 10161 E Pickwick Court
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Exterior features
Block, Cement Board
Lot features
Corner Lot
Directions
M-22 North to left at Cherry Bend Rd. Pickwick Centre is on the left at the first bend in Cherry Bend Rd.
Subdivision
Leelanau
Standard status
Active
Size
2,843 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
L632 P446/02 L910 P69/06 L921 P883/06 FOR 2007 UNIT 7 IS A COMBINATION OF UNIT 7 & UNIT 8 (PER 2ND AMENDMENT) UNIT 7 & 8 PICKWICK CENTRE CONDOMINIUM MASTER DEED REC IN L571 P848-889/1ST AMEND REC IN L605 P558/2ND AMEND REC IN L910 P62/3RD AMEND L957 P47 S
Legal Description
L632 P446/02 L910 P69/06 L921 P883/06 FOR 2007 UNIT 7 IS A COMBINATION OF UNIT 7 & UNIT 8 (PER 2ND AMENDMENT) UNIT 7 & 8 PICKWICK CENTRE CONDOMINIUM MASTER DEED REC IN L571 P848-889/1ST AMEND REC IN L605 P558/2ND AMEND REC IN L910 P62/3RD AMEND L957 P47 S
Utilities
Water source
Well
Amenities
barrier free entry
reception area
private offices
conference room
copy/print room
secure tech room
kitchen/break/relaxation room
private bathroom
storage
common bathrooms
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
REMAX Bayshore - Union St TC · RE/MAX International
(231) 941-4500
Listed By:
Ted Lockwood · License #6501288015
(231) 218-5186
Added: Nov 24, 2025
Changed: Aug 19
Last Checked: Oct 5 at 7:06PM
MLS# 1940741
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 2843-square-foot office unit occupies the second floor of a modern building and includes a reception area, four private offices, a conference room, copy and print rooms, a secure tech room, and flexible storage. The layout also provides a kitchen and break area, a private bathroom, and access to common bathrooms adjacent to the unit.
A barrier-free entry, elevator service, and parking lot support convenient daily access. The property is located at 10161 E Pickwick Court in Traverse City, near the North/South and East/West corridors serving Traverse City and Leelanau County. The building has frame construction with block and cement board exterior materials, an asphalt roof, and a well water source.
A barrier-free entry, elevator service, and parking lot support convenient daily access. The property is located at 10161 E Pickwick Court in Traverse City, near the North/South and East/West corridors serving Traverse City and Leelanau County. The building has frame construction with block and cement board exterior materials, an asphalt roof, and a well water source.
Key Highlights
- 2843 square feet of second‑floor office space
- Four private offices plus a large conference room
- Reception area, copy/print rooms, secure tech room, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,449
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$608,980
$609.0K
Cap Rate 7%
$434,986
$435.0K
Cap Rate 9%
$338,322
$338.3K
Market Conditions
NOI Build-Up for 2,843 SF
Gross rent
$47.8K $16.80/SF
− Vacancy
−$7.2K −$2.52/SF
EGI
$40.6K $14.28/SF
− OpEx
−$10.1K −$3.57/SF
NOI
$30.4K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$608,980
Cap Rate 7%
$434,986
Cap Rate 9%
$338,322
Alternative Uses
Best Use
Office B
$435.0K
$380.6K – $507.5K
NOI $30,449 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$617.6K
$540.4K – $720.5K
NOI $43,232 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Configured workspace in a modern building with private offices, conference space, elevator access, and on-site parking.
Where is this office units located?
The property is located at 10161 E Pickwick Court Traverse City, MI.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 2843 square feet of second‑floor office space; Four private offices plus a large conference room; Reception area, copy/print rooms, secure tech room, and storage
