Retail
For Sale
$1,481,200
135 Pine Street, Traverse City, MI 49684
The condominium unit is scheduled for completion in June 2026.
Property Size4,232 SF
Price / SF$350
Days on Market461
Property Features for 135 Pine Street
General Information
Standard status
Active
Size
4,232 SF
Property subtype
Commercial
Zoning
C-4c
Listing Agency:
Three West, LLC
Listed By:
Kevin L Endres · License #6505352968
(231) 534-5225
Source:
Pyxisrealty
Added: Jul 21, 2025
Changed: Oct 22
Last Checked: Oct 22 at 1:44AM
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
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Investment Insights
Based on property information with market context.
This 4,232-square-foot retail condominium is planned for completion in June 2026. The property carries C-4c zoning and is located at 135 Pine Street in downtown Traverse City, Michigan.
Key Highlights
- 4,232‑square‑foot retail condominium
- Scheduled completion in June 2026
- C‑4c zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,328
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,560
$1.0M
Cap Rate 7%
$747,543
$747.5K
Cap Rate 9%
$581,422
$581.4K
Market Conditions
NOI Build-Up for 4,232 SF
Gross rent
$81.3K $19.20/SF
− Vacancy
−$6.5K −$1.54/SF
EGI
$74.8K $17.66/SF
− OpEx
−$22.4K −$5.30/SF
NOI
$52.3K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,560
Cap Rate 7%
$747,543
Cap Rate 9%
$581,422
Alternative Uses
Best Use
Retail
$747.5K
$654.1K – $872.1K
NOI $52,328 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.3K
$804.4K – $1.07M
NOI $64,353 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,052
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Hotels & Casinos 19%
Groceries 8%
Dining 7%
Chase Bank
Shops & Services
6,517 visits/mo
0.3 miles
Hotel Indigo Traverse City
Hotels & Casinos
5,501 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
5,224 visits/mo
0.1 miles
Huntington Bank
Shops & Services
3,876 visits/mo
0.3 miles
Rocket Fizz
Groceries
2,403 visits/mo
0.1 miles
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The condominium unit is scheduled for completion in June 2026.
Where is this retail space located?
The property is located at 135 Pine Street Traverse City, MI.
What is the asking price?
The asking price for this property is $1,481,200.
What are key features of this property?
This property features: 4,232‑square‑foot retail condominium; Scheduled completion in June 2026; C‑4c zoning
