Single-Story Office
1499 Business Park Dr Traverse Traverse City, MI 49686
New
1499 Business Park Dr Traverse, Traverse City, MI, 49686
$875,000
For Sale
$875,000
Single-story log-sided office building with vaulted gathering room, private offices, kitchen, and ample paved parking.
Property Size5,000 SF
Lot Size4.55 Acres
Price / SF$175
Days on Market3
Property Features for 1499 Business Park Dr Traverse
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 4.55 Acres
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 2003
Listing Agency
Three West LLC
(231) 929-2955
Listed by
Kevin Endres · License #6505352968
(231) 929-2955
Source
Thebrokerlist
Added: Jul 15 Checked: Jul 17 at 2:22 am
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 Three West LLC
Investment Insights
Based on property information with market context.
1499 Business Park Drive is a distinctive single-story office building with 5,000 SF and a log-sided exterior, set on 4.55 wooded acres. 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. The property is described as move-in ready, with mechanical systems recently installed in 2024.
The building is located in East Bay Township, just minutes from downtown Traverse City. It sits on the east side of Business Park Dr after the road turns hard right changing the direction to south. The property is zoned Industrial within the established Business Park corridor.
With its mix of private offices and larger shared rooms, the space is positioned for professional office use and other permitted professional, nonprofit/community, and medical or wellness applications under the Industrial zoning designation noted in the materials.
The building is located in East Bay Township, just minutes from downtown Traverse City. It sits on the east side of Business Park Dr after the road turns hard right changing the direction to south. The property is zoned Industrial within the established Business Park corridor.
With its mix of private offices and larger shared rooms, the space is positioned for professional office use and other permitted professional, nonprofit/community, and medical or wellness applications under the Industrial zoning designation noted in the materials.
Key Highlights
- 5,000 SF single‑story log‑sided office building built in 2003
- Set on 4.55 wooded acres in East Bay Township, minutes from downtown Traverse City
- Recent mechanical systems installed 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
NOI $71,480 @ 7.0% cap · market cap 8.17%
Second Best
Office B
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Traverse City Service ...
Charitable Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Single-story log-sided office building with vaulted gathering room, private offices, kitchen, and ample paved parking.
Where is this office building located?
The property is located at 1499 Business Park Dr Traverse 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, minutes from downtown Traverse City; Recent mechanical systems installed in 2024
