Auto Dealership Showroom and
3566 N Us-31 S Traverse City, MI 49684
3566 N Us-31 S, Traverse City, MI, 49684
$1,600,000
For Sale
$1,600,000
Auto dealership building with showroom offices, conference room, and multiple service bays including an oil change area.
Property Size13,515 SF
Price / SF$118.39
Days on Market1379
Property Features for 3566 N Us-31 S
General Information
- Standard status
- Active
- Size
- 13,515 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2001
Listing agency
G.A. Snowden Associates
(231) 632-6007
Listed by
Gerald A Snowden · License #6502118151
Source
Phgrealty
Added: Oct 13, 2022 Updated: Jul 22 at 2:05PM Checked: Jul 22 at 2:05PM
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 G.A. Snowden Associates
Investment Insights
Based on property information with market context.
Built in 2001, this auto dealership building includes a retail showroom and private offices, along with two restrooms, a conference room, and a lounge. The center of the building is designed for operations with a storage/parts area plus seven service bays and three dedicated oil change bays. Additional interior improvements include a basement, a mezzanine, custom cabinetry, and a fireplace. The facility also features an approximately 18-foot height.
The property is in the CH Commercial District and located in an Opportunity Zone. Public remarks note it sits directly in front of both hotels.
The offering also includes land for sale or a build-to-suit option, with terms referenced as sale or lease.
The property is in the CH Commercial District and located in an Opportunity Zone. Public remarks note it sits directly in front of both hotels.
The offering also includes land for sale or a build-to-suit option, with terms referenced as sale or lease.
Key Highlights
- 13,515 SF auto dealership building built in 2001 in the CH Commercial District
- Front retail showroom with private offices, conference room, and lounge
- Includes two restrooms and storage/parts area with 7 service bays plus 3‑bay oil change area
Local 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
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
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 - Auto dealership building with showroom offices, conference room, and multiple service bays including an oil change area.
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; Front retail showroom with private offices, conference room, and lounge; Includes two restrooms and storage/parts area with 7 service bays plus 3‑bay oil change area
