Flex Space with
For Sale
$549,900
1393 Industry Drive, Traverse City, MI 49696
Office, storage, and vehicle-access areas support a range of commercial operations.
Property Size5,150 SF
Price / SF$106.78
Days on Market64
Property Features for 1393 Industry Drive
General Information
Standard status
Active
Size
5,150 SF
Total Parking Spaces
9
Property subtype
Commercial
Zoning
Industrial, Office
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
2
Additional Details
Property Use
Light Industrial
Building Details
Building Size
5,150 SF
Year Built
2024
Listing Agency:
Krause Realty Solutions
(231) 714-7219
Listed By:
Brittney Brayton
(231) 360-0112
Source:
Carterassociatesrealty
Added: Aug 28
Changed: Oct 29
Last Checked: Oct 29 at 6:41PM
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 Krause Realty Solutions
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Investment Insights
Based on property information with market context.
This 5,150-SF flex property, built in 2024, combines office and garage space. The office area includes five private offices, a break room, two bathrooms, and a laundry room, with approximately 1,500 square feet of storage above. The 70-foot-by-50-foot garage has 18-foot ceilings and two 16-foot overhead doors.
Nine designated parking spaces serve employees and visitors. Industrial and office zoning is reported, and the building is scheduled to become available in November 2026.
Nine designated parking spaces serve employees and visitors. Industrial and office zoning is reported, and the building is scheduled to become available in November 2026.
Key Highlights
- 5,150 SF; built in 2024
- 70' x 50' garage with 18‑foot ceilings
- Two 16‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,984
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,680
$819.7K
Cap Rate 7%
$585,486
$585.5K
Cap Rate 9%
$455,378
$455.4K
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$51.3K $9.96/SF
− Vacancy
−$3.1K −$0.60/SF
EGI
$48.2K $9.36/SF
− OpEx
−$7.2K −$1.40/SF
NOI
$41.0K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,680
Cap Rate 7%
$585,486
Cap Rate 9%
$455,378
Alternative Uses
Best Use
Flex RnD
$757.8K
$663.1K – $884.2K
NOI $53,049 @ 7.0% cap · market cap 9.65%
Second Best
Warehouse
$585.5K
$512.3K – $683.1K
NOI $40,984 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.12M
$978.9K – $1.31M
NOI $78,313 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 49696, MI
9,528
Population
5,005
Households
1.9
Avg Household Size
43
Median Age
41%
College-Educated
96%
High-School Grad
68.7 sq mi
ZIP Area
139
Density / Sq Mi
$96,138
Median Household Income
$46,893
Median Earnings
$1,309
Median Rent
$289,300
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office, storage, and vehicle-access areas support a range of commercial operations.
Where is this flex space located?
The property is located at 1393 Industry Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 5,150 SF; built in 2024; 70' x 50' garage with 18‑foot ceilings; Two 16‑foot overhead doors
