Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land Ready to Build Title is generated by Realmo AI

    3414 Parkland Ct Lot 37, Traverse City, MI

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Spacious commercial/industrial vacant lots ready for development.

    Type:LAND
    Lot size:
    2.99 Acres
    Added:
    Apr 3, 2024
    Days on Market:
    795
    Last Refresh:
    May 20 at 9:12 pm

    Property Features for 3414 Parkland Ct Lot 37

    General Information

    Standard status
    Active
    Lot size
    2.99 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    David Ocon

    Listing agent David Ocon

    Listing office Homequest Realtors, LLC

    Listing date Apr 3, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Homequest Realtors, LLC

    HighLights

    • Build to suit options offered by the seller.
    • Excellent location off Three Mile Road, close to Traverse City.
    • Public water and sewer in place.
    • Located in a well‑established commercial business park.
    • Underground electric available.
    • Close proximity to downtown Traverse City and Cherry Capital Airport.

    Overview

    These spacious commercial/industrial vacant lots are ready to build on. The property has public water and sewer in place, as well as underground electric. It is located on Business Park Drive and surrounded by various medical offices, industrial complexes, office buildings, and flex space. The setting is quiet with easy access. The location is off Three Mile Road, in close proximity to Traverse City limits. Build-to-suit options are available. The property is located in a well-established commercial business park and is close to downtown Traverse City and Cherry Capital Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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
    -85.6206
    Latitude
    44.7631

    Nearby Similar for Sale

    • $869,900
      5,632 SF

      Commercial Property with Office and Warehouse

      Two buildings: office and warehouse with secure fenced yard.
      820 Duell Road, Traverse City, MI 49686
      View Details
    • $675,000
      3,294 SF

      Traverse City Office Condominium

      Single-story office condominium in a wooded Traverse City office park.
      920 S Garfield Avenue, Traverse City, MI 49686
      View Details
    • $4,950,000
      54,000 SF

      Industrial Warehouse and Office Property

      Flex industrial-zoned site with multiple warehouse and office buildings plus dual access for owner-users and service operations.
      1500 Barlow Street, Traverse City, MI 49684
      View Details
    • $532,000
      2,800 SF

      To-Be-Built Aircraft Storage Hangars

      New insulated and heated hangar units at Cherry Capital Airport, offered as co-op shares with exclusive use rights.
      1218 Boon Street, Traverse City, MI 49686
      View Details
    • $532,000
      2,800 SF

      To-Be-Built Aviation Storage Hangar

      Heated, insulated hangar units with epoxy floors and LED lighting, available now as a co-op interest.
      1218 Boon Street, Traverse City, MI 49686
      View Details
    • $523,000
      2,800 SF

      Heated Hangar Storage Condo Units

      To-be-built, insulated hangar units with heated interior and epoxy floors for general aviation storage.
      1218 Boon Street, Traverse City, MI 49686
      View Details
    • $854,000
      2,849 SF

      Downtown Traverse City Retail/Office Condo

      New 2,849 SF commercial condo in Traverse City, MI.
      232 E State Street, Traverse City, MI 49684
      View Details
    • $799,000
      3,995 SF

      Adult Foster Care Assisted Living Facility

      Former adult foster care property offers barrier-free living spaces and fire-suppression/sprinklered safety features in a country setting.
      3205 Supply Road, Traverse City, MI 49686
      View Details
    • $799,000
      3,995 SF

      Adult Foster Care Facility Home

      Barrier-free adult foster care property with spacious indoor living areas and walkout basement for flexible residential use.
      3255 Mahoney Drive, Traverse City, MI 49686
      View Details
    • $498,000
      2,843 SF

      Modern Office Space in Traverse

      Spacious office in Traverse City with ample parking.
      10161 E Pickwick Court, Traverse City, MI 49684-1490
      View Details
    • $150,000
      727 SF

      Traverse City Office Condominium

      Single-story office condo with basement storage and ample parking.
      920 S Garfield Avenue, Traverse City, MI 49686
      View Details
    • $380,000
      3,352 SF

      Mixed-Use Building in Traverse City

      3,352 SF mixed-use building on 0.526 acres for sale.
      571 Blue Star, Traverse City, MI 49685
      View Details

    FAQs

    What type of property is this?
    Land - Spacious commercial/industrial vacant lots ready for development.
    Where is this land located?
    The property is located at 3414 Parkland Ct Lot 37 Traverse City, MI.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Build to suit options offered by the seller.; Excellent location off Three Mile Road, close to Traverse City.; Public water and sewer in place.
    (253) 735-8899 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Ocon
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    3414 Parkland Ct, Lot 37, Traverse City, MI
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!