Manufacturing Building with Overhead
New
For Sale
$995,000
1416 Industry Dr, Traverse City, MI 49696
Built in 2022 with dedicated industrial power and two bathrooms.
Property Size9,720 SF
Price / SF$102.37
Days on Market5
Property Features for 1416 Industry Dr
General Information
Standard status
Active
Size
9,720 SF
Total Parking Spaces
10
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,536
Building Details
Year Built
2022
Buildings
1
Building Size
9,720 SF
Listing Agency:
Re/max Bayshore Properties
(617) 515-9707
Listed By:
Thomas S Corbett · License #6501452622
(617) 515-9707
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 10:21AM
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 Re/max Bayshore Properties
Investment Insights
Based on property information with market context.
This 9,720-square-foot manufacturing building was constructed in 2022 within Hammond Industrial Centre. The industrial layout includes two bathrooms and two 14' x 14' overhead doors supporting shipping, receiving, and equipment movement without an extensive office buildout.
Electrical service includes two dedicated 240V, 60A circuits, each with its own safety disconnect. The available power supports equipment such as air compressors, mini-split or HVAC units, welders, shop machinery, well pumps, and large motors. The property is suited to manufacturing, fabrication, storage, and equipment-based operations.
Electrical service includes two dedicated 240V, 60A circuits, each with its own safety disconnect. The available power supports equipment such as air compressors, mini-split or HVAC units, welders, shop machinery, well pumps, and large motors. The property is suited to manufacturing, fabrication, storage, and equipment-based operations.
Key Highlights
- 9,720‑square‑foot manufacturing building constructed in 2022
- Two 14' x 14' overhead doors for shipping, receiving, and equipment access
- Two dedicated 240V, 60A circuits with individual safety disconnects
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,352
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,547,040
$1.5M
Cap Rate 7%
$1,105,029
$1.1M
Cap Rate 9%
$859,467
$859.5K
Market Conditions
NOI Build-Up for 9,720 SF
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.
Gross rent
$96.8K $9.96/SF
− Vacancy
−$5.8K −$0.60/SF
EGI
$91.0K $9.36/SF
− OpEx
−$13.7K −$1.40/SF
NOI
$77.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,547,040
Cap Rate 7%
$1,105,029
Cap Rate 9%
$859,467
Alternative Uses
Best Use
Warehouse
$1.11M
$966.9K – $1.29M
NOI $77,352 @ 7.0% cap · market cap 7.77%
Second Best
Industrial
$809.2K
$708.0K – $944.1K
NOI $56,643 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,806 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Built in 2022 with dedicated industrial power and two bathrooms.
Where is this manufacturing property located?
The property is located at 1416 Industry Dr Traverse City, MI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 9,720‑square‑foot manufacturing building constructed in 2022; Two 14' x 14' overhead doors for shipping, receiving, and equipment access; Two dedicated 240V, 60A circuits with individual safety disconnects
