Flex Space with
For Sale
$365,000
1414 Trade Centre Dr, Traverse City, MI 49696
The office portion offers an open reception or showroom area, a conference room, a private office and an accessible restroom.
Property Size2,540 SF
Price / SF$143.70
Days on Market13
Property Features for 1414 Trade Centre Dr
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Commercial
Zoning
I-G General Industrial
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
1,355 SF
Office Build-Out
1,185 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,439
Building Details
Year Built
2017
Listing Agency:
REMAX Bayshore - West Shore Dr TC
Listed By:
Tommy Corbett · License #6501406353
(617) 515-9707
Source:
Elliman
Added: Oct 19
Changed: Oct 27
Last Checked: Oct 30 at 4:35PM
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 REMAX Bayshore - West Shore Dr TC
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Investment Insights
Based on property information with market context.
This 2,540-square-foot flex unit at Hammond Commerce Centre was built in 2017. Its 1,185-square-foot office section includes an open area for reception or showroom use, a large conference room, a private executive office and an accessible restroom. The remaining 1,355 square feet provide warehouse and storage space, with 16-foot ceilings, a 12-by-14-foot overhead door, LED lighting and a fire suppression system.
The property is at 1414 Trade Centre Dr, off Hammond Road between Garfield and LaFranier. It is zoned I-G General Industrial. The association maintains the shared paved parking area.
The listed potential applications include contracting, distribution, light manufacturing, wholesale, showroom and office use.
The property is at 1414 Trade Centre Dr, off Hammond Road between Garfield and LaFranier. It is zoned I-G General Industrial. The association maintains the shared paved parking area.
The listed potential applications include contracting, distribution, light manufacturing, wholesale, showroom and office use.
Key Highlights
- 2,540 SF flex unit with 1,185 SF of office and 1,355 SF of warehouse and storage
- Built in 2017; zoned I‑G General Industrial
- Warehouse features 16' ceilings and a 12'x14' overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,164
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,280
$523.3K
Cap Rate 7%
$373,771
$373.8K
Cap Rate 9%
$290,711
$290.7K
Market Conditions
NOI Build-Up for 2,540 SF
Gross rent
$43.3K $17.04/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$40.3K $15.85/SF
− OpEx
−$14.1K −$5.55/SF
NOI
$26.2K $10.30/SF
Area
Grand Traverse County, MI
Vacancy
7.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,280
Cap Rate 7%
$373,771
Cap Rate 9%
$290,711
Alternative Uses
Best Use
Flex RnD
$373.8K
$327.1K – $436.1K
NOI $26,164 @ 7.0% cap · market cap 7.17%
Second Best
Warehouse
$288.8K
$252.7K – $336.9K
NOI $20,213 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$551.8K
$482.8K – $643.7K
NOI $38,624 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Balanced
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
Similar Off Market Nearby
- Gabe's Old Fashioned Foods — 2259 Traversefield Dr, Traverse City, MI 49686
Frequently Asked Questions
What type of property is this?
Flex space - The office portion offers an open reception or showroom area, a conference room, a private office and an accessible restroom.
Where is this flex space located?
The property is located at 1414 Trade Centre Dr Traverse City, MI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,540 SF flex unit with 1,185 SF of office and 1,355 SF of warehouse and storage; Built in 2017; zoned I‑G General Industrial; Warehouse features 16' ceilings and a 12'x14' overhead door
