Industrial Land with Existing
1502 Barlow Street, Traverse City, MI 49684
For Sale
$4,950,000
Commercial, Traverse City, MI
Property Size52,409 SF
Lot Size4.50 Acres
Price / SF$94.45
Days on Market157
Property Features for 1502 Barlow Street
General Information
Property type
Property subtype
Zoning description
Parking features
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Building materials
Roof type
Buildings
Listing Agency:
The Mitten Real Estate Group
(231) 421-1970
Listed By:
Gordon Liechti
(231) 944-3156
Added: Jun 4
Changed: Nov 7
Last Checked: Nov 7 at 5:06PM
MLS# 1946109
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.
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Investment Insights
Based on property information with market context.
This 4.5-acre industrial property at 1502 Barlow Street includes eight buildings totaling approximately 52,409 square feet. The improvements combine warehouse, industrial, and office space, with a portion of the buildings leased. I-G and I-L zoning supports uses such as warehouse and distribution, contractor yards, light manufacturing, and service operations.
The site extends between Barlow Street and Woodmere Avenue and has access from both streets. Its existing buildings provide a mix of space across the property, while the zoning and access characteristics support a range of industrial configurations.
The site extends between Barlow Street and Woodmere Avenue and has access from both streets. Its existing buildings provide a mix of space across the property, while the zoning and access characteristics support a range of industrial configurations.
Key Highlights
- 4.5‑acre industrial‑zoned site
- Eight buildings totaling approximately 52,409 square feet
- Building mix includes warehouse, industrial, and office space
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
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Industrial land in Traverse City
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial land - I-G and I-L zoning accommodates warehouse, distribution, contractor-yard, light manufacturing, and service uses.
Where is this industrial land located?
The property is located at 1502 Barlow Street 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‑zoned site; Eight buildings totaling approximately 52,409 square feet; Building mix includes warehouse, industrial, and office space
