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Log-Sided Single-Story Office Building

1499 Business Park Drive Traverse City, MI 49686

New
1499 Business Park Drive, Traverse City, MI, 49686
$875,000
For Sale
Claim this Listing
$875,000

COMMERCIAL - Traverse City, MI

Property Size5,000 SF
Lot Size4.55 Acres
Price / SF$175
AddedJul 13
Days on Market2
Last RefreshJul 14 at 2:06 pm

Property Features for 1499 Business Park Drive

General Information

Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Exterior features
Log Siding, Stone
Standard status
Active
Size
5,000 SF
Lot size
4.55 Acres

Taxes and HOA fees

Tax Description
Lengthy see documents.

Building Details

Building materials
Frame
Roof type
Asphalt

Listing agent Kevin Endres License #6505352968

Listing office Three West, LLC 1131 E Eighth Street, Traverse City, MI

Listing date Jul 13, 2026

MLS# 1947937

Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

1499 Business Park Drive is a 5,000-square-foot, single-story log-sided office building built in 2003 and maintained in move-in-ready condition. The interior includes a dramatic vaulted-ceiling gathering room with knotty pine finishes, multiple private offices, a full kitchen, and expansive multipurpose and recreation rooms, along with ample paved parking.

The property is located in East Bay Township, minutes from downtown Traverse City, and sits on 4.55 wooded acres. Zoned Industrial within the Business Park corridor, the building supports a range of professional and institutional uses.

With its single-level layout and flexible common areas, the space can accommodate organizations seeking both private office space and larger rooms for meetings or activities. Recently installed mechanical systems were noted as completed in 2024.

Key Highlights

  • 5,000 SF single‑story log‑sided office building built in 2003
  • Set on 4.55 wooded acres in East Bay Township, just minutes from downtown Traverse City
  • Recently installed mechanical systems in 2024

Local Financial Insights For Healthcare Medical

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 $130.2k $26.04
− Vacancy −$11.1k −$2.21
EGI $119.1k $23.83
− OpEx −$47.7k −$9.53
NOI $71.5k $14.30
5,000 SF · lease $26.04/SF/yr · vacancy 8.50% · expense 40.00%

Alternative Uses

Best Use
Healthcare Medical
$1.02M
$893.5K – $1.19M (±1% cap)
NOI $71,480 @ 7.0% cap · market cap 8.17%
Second Best
Office B
$765.0K
$669.4K – $892.5K (±1% cap)
NOI $53,550 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M (±1% cap)
NOI $76,032 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Traverse City Service ... Charitable Organization

Suggested Use

Dental Office Parking Lot & Garage Building Supply Big Box & Wholesale Store Pharmacy Furniture & Home Goods Grocery & Convenience Store Nail Salon Bakery (Bike/Boat/Book/etc) Store

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

FAQs

What type of property is this?
Office building - Single-story office building with vaulted gathering room, multiple offices, kitchen, and paved parking on 4.55 wooded acres.
Where is this office building located?
The property is located at 1499 Business Park Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 5,000 SF single‑story log‑sided office building built in 2003; Set on 4.55 wooded acres in East Bay Township, just minutes from downtown Traverse City; Recently installed mechanical systems in 2024
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More about this property
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