Log-Sided Office
For Sale
$875,000
1499 Business Park Drive, Traverse City, MI 49686
Commercial, Traverse City, MI
Property Size5,000 SF
Lot Size4.55 Acres
Price / SF$175
Days on Market93
Property Features for 1499 Business Park Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Industrial, Office, Commercial
Parking features
Parking Lot
Exterior features
Log Siding, Stone
Lot features
Business Park, Freestanding
Directions
Located on the east side of Business Park Dr after the road turns hard right changing your direction to south.
Subdivision
Grand Traverse
Standard status
Active
Size
5,000 SF
Lot size
4.55 Acres
Taxes and HOA fees
Tax Description
Lengthy see documents.
Legal Description
Lengthy see documents.
Amenities
vaulted-ceiling gathering room
full kitchen
multipurpose room
recreation rooms
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Kevin Endres · License #6505352968
(231) 534-5225
Added: Jul 13
Changed: Oct 8
Last Checked: Oct 13 at 6:06AM
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.
Located at 1499 Business Park Drive, this 5,000-square-foot, single-story office building offers a flexible interior arrangement with multiple private offices, a full kitchen, multipurpose rooms, recreation areas, and a vaulted gathering room finished with knotty pine. Log siding, stone accents, and frame construction define the exterior, while an asphalt roof and paved parking lot support everyday operations.
The property encompasses 4.55 wooded acres in East Bay Township’s established Business Park corridor, with downtown Traverse City just minutes away. Industrial zoning supports the existing office configuration and provides a defined commercial setting for the property. Constructed in 2003, the building has mechanical systems installed in 2024.
The property encompasses 4.55 wooded acres in East Bay Township’s established Business Park corridor, with downtown Traverse City just minutes away. Industrial zoning supports the existing office configuration and provides a defined commercial setting for the property. Constructed in 2003, the building has mechanical systems installed in 2024.
Key Highlights
- 5,000 SF single‑story office building at 1499 Business Park Drive
- Situated on 4.55 wooded acres in East Bay Township
- Industrial zoning within an established Business Park corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,550
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,000
$1.1M
Cap Rate 7%
$765,000
$765.0K
Cap Rate 9%
$595,000
$595.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$84.0K $16.80/SF
− Vacancy
−$12.6K −$2.52/SF
EGI
$71.4K $14.28/SF
− OpEx
−$17.9K −$3.57/SF
NOI
$53.6K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,000
Cap Rate 7%
$765,000
Cap Rate 9%
$595,000
Alternative Uses
Best Use
Office B
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office property with private rooms, a full kitchen, flexible gathering areas, and paved on-site parking.
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 office building at 1499 Business Park Drive; Situated on 4.55 wooded acres in East Bay Township; Industrial zoning within an established Business Park corridor
