Industrial Property with Dual
1502 Barlow St, Traverse City, MI 49684
For Sale
New
$4,950,000
Eight existing buildings provide a mix of warehouse, industrial, and office space across a site with two-street access.
Property Size52,409 SF
Lot Size4.50 Acres
Price / SF$94.45
Days on Market2
Property Features for 1502 Barlow St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Road Access
Outdoor Storage
Additional Details
Land Use
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Listing Agency:
The Mitten Real Estate Group
Listed By:
Gordon Liechti
(231) 944-3156
Source:
Elliman
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 6 at 2:48PM
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
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Investment Insights
Based on property information with market context.
This 4.5-acre industrial property contains approximately 52,409 square feet across eight buildings, with warehouse, industrial, and office areas. Built in 1970, the improvements are partly leased. The site carries General Mixed-Use Industrial (I-G) zoning and Light Industrial (I-L) flexibility; stated use options include warehouse and distribution, contractor yards, light manufacturing, and service operations.
The property fronts both Barlow Street and Woodmere Avenue, providing access from each street. Existing buildings offer current utility alongside the site's industrial zoning and acreage.
The property fronts both Barlow Street and Woodmere Avenue, providing access from each street. Existing buildings offer current utility alongside the site's industrial zoning and acreage.
Key Highlights
- 4.5‑acre site with General Mixed‑Use Industrial (I‑G) and Light Industrial (I‑L) zoning
- Approximately 52,409 square feet across eight buildings
- Warehouse, industrial, and office space in the existing improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$417,073
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,341,460
$8.3M
Cap Rate 7%
$5,958,186
$6.0M
Cap Rate 9%
$4,634,144
$4.6M
Market Conditions
NOI Build-Up for 52,409 SF
Gross rent
$522.0K $9.96/SF
− Vacancy
−$31.3K −$0.60/SF
EGI
$490.7K $9.36/SF
− OpEx
−$73.6K −$1.40/SF
NOI
$417.1K $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%
$8,341,460
Cap Rate 7%
$5,958,186
Cap Rate 9%
$4,634,144
Alternative Uses
Best Use
Warehouse
$5.96M
$5.21M – $6.95M
NOI $417,073 @ 7.0% cap · market cap 8.43%
Second Best
Industrial
$4.36M
$3.82M – $5.09M
NOI $305,413 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$11.39M
$9.96M – $13.28M
NOI $796,952 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
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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
$375,700
Median Home Value
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Market
Average Price Trend$/SF for Industrial properties in Traverse City, MI
Properties on Market for Industrial properties in Traverse City
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - Eight existing buildings provide a mix of warehouse, industrial, and office space across a site with two-street access.
Where is this industrial property 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 site with General Mixed‑Use Industrial (I‑G) and Light Industrial (I‑L) zoning; Approximately 52,409 square feet across eight buildings; Warehouse, industrial, and office space in the existing improvements
