1502 Barlow St, Traverse City, MI 49684

Building Details

Year Built 1970 More

Listing Agency: The Mitten Real Estate Group

Listed By: Gordon Liechti Show Phone

Source: Vmrealestatemichigan

Added: Jun 4 Changed: Nov 8 Last Checked: Nov 8 at 7:15AM

Report an Issue

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 The Mitten Real Estate Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4.5-acre industrial property includes approximately 54,000 square feet across eight buildings, with warehouse, industrial, and office areas. Built in 1970, the improvements offer existing space for use alongside the land. A portion of the buildings is leased.

The site lies between Barlow Street and Woodmere Avenue, with access from both streets. Zoning is General Mixed-Use Industrial (I-G), with additional Light Industrial (I-L) flexibility. The property information identifies warehouse and distribution, contractor yards, light manufacturing, and service operations among its potential uses.

Key Highlights

• 4.5‑acre industrial property
• Approximately 54,000 square feet across eight buildings
• General Mixed‑Use Industrial (I‑G) zoning with additional Light Industrial (I‑L) flexibility

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$429,734

Cap Rate

8.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,594,680 $8.6M

Cap Rate 7%

$6,139,057 $6.1M

Cap Rate 9%

$4,774,822 $4.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 54,000 SF

Gross rent

$537.8K $9.96/SF

− Vacancy

−$32.3K −$0.60/SF

EGI

$505.6K $9.36/SF

− OpEx

−$75.8K −$1.40/SF

NOI

$429.7K $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 Rate 5%

$8,594,680

Cap Rate 7%

$6,139,057

Cap Rate 9%

$4,774,822

Alternative Uses

Best Use

Mixed Use

$6.58M

$5.76M – $7.68M (±1% cap)

NOI $460,688 @ 7.0% cap · market cap 9.31%

Second Best

Warehouse

$6.14M

$5.37M – $7.16M (±1% cap)

NOI $429,734 @ 7.0% cap · market cap 8.68%

Theoretical Best

Office A

$11.73M

$10.26M – $13.69M (±1% cap)

NOI $821,146 @ 7.0% cap · market cap 16.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Traverse City Glass ... Hardware & Home Improvement

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Catering Service Parking Lot & Garage Barber Shop Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

747

Businesses Nearby

Explore this area Business Placement

Demographics for 49684, MI

22,025

Population

10,959

Households

2

Avg Household Size

49

Median Age

46%

College-Educated

96%

High-School Grad

52.8 sq mi

ZIP Area

417

Density / Sq Mi

$75,678

Median Household Income

$39,553

Median Earnings

$1,216

Median Rent

$375,700

Median Home Value

Market

Properties on Market for Industrial land in Traverse City

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar For Sale Nearby

See more

Mixed-Use Building with Atrium

Traverse City, MI 49684

$3,375,000

23,983 SF

View details

9-Unit Mixed-Use Property

902 W Front, Traverse City, MI 49684

$4,150,000

12,870 SF

View details

Mixed-Use Building with Residential Units

161 E Front Street, Traverse City, MI 49684

$4,750,000

8,480 SF

View details

Flex Space with Loading Dock

3733 Blair Townhall Road, Traverse City, MI 49685

$1,200,000

12,020 SF

View details

Warehouse Office Flex Building

Traverse City, MI 49686

$775,000

10,480 SF

View details

Flex Space with Indoor Loading Dock

2883 Aero Park, Traverse City, MI 49686

$725,000

10,480 SF

View details

Historic Mixed-Use Building

601 Randolph Street, Traverse City, MI 49684

$1,400,000

3,250 SF

View details

Traverse City Industrial Investment Opportunity

3054 Cass Rd, Traverse City, MI 49684

Contact for pricing

18,037 SF

View details

Flex Space With High-Clear Garage

1-1393 Industry Dr, Traverse City, MI 49696

$549,900

5,150 SF

View details

Flex Space with Garage

Traverse City, MI 49696

$549,900

5,150 SF

View details

Flex Property with Warehouse Areas

876 Robinwood Court, Traverse City, MI 49686

$550,000

4,568 SF

View details

New Mixed-Use Commercial Condo

Traverse City, MI 49684

$654,750

View details

Frequently Asked Questions

What type of property is this?

Industrial land - Eight existing structures provide a mix of warehouse, industrial, and office space on a site with access from two streets.

Where is this industrial land located?

The property is located at 1502 Barlow St Traverse City, MI.

What is the asking price?

The asking price for this property is $4,950,000.

What are key features of this property?

This property features: 4.5‑acre industrial property; Approximately 54,000 square feet across eight buildings; General Mixed‑Use Industrial (I‑G) zoning with additional Light Industrial (I‑L) flexibility