Downtown Traverse City Retail
For Sale
$891,300
137 Pine St Unit 101 Traverse, Traverse City, MI 49684
Retail condo in downtown Traverse City, completion scheduled for June 2026.
Property Size3,794 SF
Price / SF$300
Days on Market184
Property Features for 137 Pine St Unit 101 Traverse
General Information
Standard status
Active
Size
3,794 SF
Property subtype
Street Retail
Building Details
Building Size
3,794 SF
Year Built
2026
Properties For Sale
at 137 Pine St Unit 101 Traverse
137 Pine St
Size
2,971 SF
Lease Type
NNN
Listing Agency:
Three West LLC
Listed By:
Kevin Endres · License #6505352968
(231) 929-2955
Source:
Thebrokerlist
Added: Apr 24
Changed: Oct 8
Last Checked: Oct 23 at 3:16AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,971 square foot condo unit, located in downtown Traverse City, is zoned C-4c, making it suitable for retail businesses. Completion is scheduled for June of 2026. The property offers a strategic location in the heart of Traverse City, with modern amenities and a versatile layout. The location has a bike score of 92, indicating it is a biker's paradise, and a walk score of 78, indicating it is very walkable. This property presents an opportunity to secure a retail space in Traverse City's retail landscape.
Key Highlights
- Prime retail location in downtown Traverse City.
- C‑4c zoning ideal for retail businesses.
- 2,971 SF condo unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,736
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,720
$734.7K
Cap Rate 7%
$524,800
$524.8K
Cap Rate 9%
$408,178
$408.2K
Market Conditions
NOI Build-Up for 2,971 SF
Gross rent
$57.0K $19.20/SF
− Vacancy
−$4.6K −$1.54/SF
EGI
$52.5K $17.66/SF
− OpEx
−$15.7K −$5.30/SF
NOI
$36.7K $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%
$734,720
Cap Rate 7%
$524,800
Cap Rate 9%
$408,178
Alternative Uses
Best Use
Retail
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.4K
$564.7K – $753.0K
NOI $45,178 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
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
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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 - Retail condo in downtown Traverse City, completion scheduled for June 2026.
Where is this retail space located?
The property is located at 137 Pine St Unit 101 Traverse Traverse City, MI.
What is the asking price?
The asking price for this property is $891,300.
What are key features of this property?
This property features: Prime retail location in downtown Traverse City.; C‑4c zoning ideal for retail businesses.; 2,971 SF condo unit.
