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    Industrial Manufacturing Building with Docks Title is generated by Realmo AI

    1621 Keane Dr, Traverse City, MI 49696

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    For Sale
    $2,050,000

    Manufacturing-ready facility with heavy power, two dock levelers, and flexible production-to-office ceiling heights.

    Type:Commercial
    Property size:
    36,997 SF
    Lot size:
    7.16 Acres
    Price / SF:
    $55/SF
    Added:
    Jun 3, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 4:49 am

    Property Features for 1621 Keane Dr

    General Information

    Standard status
    Active
    Size
    36,997 SF
    Lot size
    7.16 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1991

    We can help!

    Listing Contact
    David J Frost
    David J Frost

    Listing agent David J Frost License #6501203019

    Listing office Three West, LLC

    Listing date Jun 3, 2026

    Source Elliman

    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 Three West, LLC

    HighLights

    • Industrial building on 7.16 acres in Heidbreder Industrial Park
    • 33,186 SF total floor space with added 3,811 SF main‑level production space (press room changes)
    • 11– to ceiling height on lower level and office areas; 24– to 30– height through the balance of the building
    • Heavy 480V three‑phase power throughout
    • Two indoor truck docks with levelers and LED lighting throughout
    • Fire suppression throughout and enough land for additional parking or buildings

    Overview

    This solid industrial building totals 33,186 square feet and includes manufacturing space plus office areas. The existing press has been removed and the upper level of the press room has been filled in, creating an additional 3,811 square feet of main level production space. Ceiling heights reach 11 feet on the lower level and office areas, with 24 to 30 feet through the balance of the building. The property has heavy 480V three-phase power throughout, LED lighting throughout, and fire suppression throughout the offices.

    The building features two indoor truck docks with levelers for loading and receiving. It sits within Heidbreder Industrial Park on 7.16 acres, with Hammond and Garfield Roads providing truck access in multiple directions. The site also has sufficient land for additional parking or potential future buildings.

    For industrial users, the combination of higher clear height, three-phase power, and dock-level loading supports a range of light manufacturing and production functions. Office space is included within the structure, with ceiling heights that step down to 11 feet in office and lower-level areas, while the remainder of the building maintains taller production clearances.
    Location Intelligence

    Current Use by Public Records

    Traverse City Record ... Publishing House

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store

    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
    -85.5945939
    Latitude
    44.7103012

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    FAQs

    What type of property is this?
    Manufacturing property - Manufacturing-ready facility with heavy power, two dock levelers, and flexible production-to-office ceiling heights.
    Where is this manufacturing property located?
    The property is located at 1621 Keane Dr Traverse City, MI.
    What is the asking price?
    The asking price for this property is $2,050,000.
    What are key features of this property?
    This property features: Industrial building on 7.16 acres in Heidbreder Industrial Park; 33,186 SF total floor space with added 3,811 SF main‑level production space (press room changes); 11– to ceiling height on lower level and office areas; 24– to 30– height through the balance of the building
    (231) 620-5705
    We can help!
    Listing Contact
    David J Frost
    David J Frost
    Real Estate License ID: 6501203019
    Learn More
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    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.

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    1621 Keane Dr, GarfieldCharterTownship_GrandTraverse, MI 49696
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