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Iconic Warehouse MRKT Building

144 Hall St Traverse City, MI 49684

Claim this Listing
For Sale
$2,950,000

Thriving Traverse City marketplace with multi-tenant rental model.

Property size:
18,454 SF
Lot size:
0.75 Acres
Price / SF:
$159.86/SF
Added:
Dec 9, 2025
Days on Market:
217
Last Refresh:
May 27 at 2:18 am

Property Features for 144 Hall St

General Information

Standard status
Active
Size
18,454 SF
Lot size
0.75 Acres

Listing office REMAX Bayshore - West Shore Dr TC

Listing date Dec 9, 2025

Source Exprealty

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


Investment Insights

Based on property information with market context.

This property presents an opportunity to own a building in Traverse City’s Warehouse District. The Warehouse MRKT building features industrial design and a marketplace environment, currently housing 9 tenants in a multi-tenant rental model. The property includes ceilings, exposed beams, and an open floor plan. The property may be suitable for expanding the existing marketplace, establishing a retail concept, or mixed-use redevelopment. The property is situated on a three-quarters of an acre and includes on-site parking. This established building combines character, location, and income potential in one of Traverse City’s districts.

Key Highlights

  • Established multi‑tenant rental model with 9 tenants.
  • Prime location in Traverse City's thriving Warehouse District.
  • Adaptable open floor plan suitable for various uses (marketplace, retail, mixed‑use).

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $354.3k $19.20
− Vacancy −$28.3k −$1.54
EGI $326.0k $17.66
− OpEx −$97.8k −$5.30
NOI $228.2k $12.36
18,454 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 30.00%

Alternative Uses

Best Use
Retail
$3.26M
$2.85M – $3.80M (±1% cap)
NOI $228,180 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M (±1% cap)
NOI $280,619 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Water Bearer Coffee Cafe & Coffee Shop The Refillery Traverse City Department Store Handz On Art - Paint ... Training Center Waara Technologies Home Appliance Store Hexenbelle Cafe & Coffee Shop

Suggested Use

Auto Repair Shop Auto Parts Store Big Box & Wholesale Store HVAC Service Electrical Service Furniture & Home Goods (Bike/Boat/Book/etc) Store Grocery & Convenience Store Veterinary Clinic (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Warehouse MRKT — 144 Hall St, Traverse City, MI 49684
  • Coin Cloud Bitcoin ATM — 542 W Front St, Traverse City, MI 49684

FAQs

What type of property is this?
Shopping center - Thriving Traverse City marketplace with multi-tenant rental model.
Where is this shopping center located?
The property is located at 144 Hall St Traverse City, MI.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Established multi‑tenant rental model with 9 tenants.; Prime location in Traverse City's thriving Warehouse District.; Adaptable open floor plan suitable for various uses (marketplace, retail, mixed‑use).
Contact an agent
More about this property
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