Versatile Commercial Space in Traverse
1859 Southpeak Drive Traverse City, MI 49685
1859 Southpeak Drive, Traverse City, MI, 49685
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For Sale
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Adaptable 4,080 SF commercial space with warehouse and office areas.
Property Size4,080 SF
Price / SF$129.66
Days on Market735
Property Features for 1859 Southpeak Drive
General Information
- Standard status
- Active
- Size
- 4,080 SF
- Property subtype
- Industrial, Mixed Use
Building Details
- Year Built
- 2017
Listing agency
Century 21 Northland Traverse City
Listed by
Deirdre Carroll · License #MI6506047900
Source
Crexi
Added: Jul 17, 2024 Updated: Jul 10 at 3:44PM Checked: Jul 19 at 6:35AM
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 Century 21 Northland Traverse City
Investment Insights
Based on property information with market context.
This 4,080 square foot commercial space is located along a high-traffic corridor in Traverse City, offering visibility and accessibility. The interior layout is adaptable to various permitted business uses. A standout feature is the open warehouse-style section, which provides over 2,000 square feet of climate-controlled space with 16-foot ceilings, suitable for storage, production, or display needs. The floor plan includes a reception area, private office spaces, a conference room, a kitchenette, and a half bathroom. Recent updates include new flooring and efficient ductless heating and cooling systems. Local zoning details are available via the Blair Township website.
Key Highlights
- High‑traffic location in Traverse City with excellent visibility and access.
- Large, adaptable 4,080 sq ft interior suitable for various business uses.
- Over 2,000 sq ft of climate‑controlled warehouse space with 16‑foot ceilings.
Local Financial Insights For Flex RnD
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 | $69.5k | $17.04 |
| − Vacancy | −$4.9k | −$1.19 |
| EGI | $64.7k | $15.85 |
| − OpEx | −$22.6k | −$5.55 |
| NOI | $42.0k | $10.30 |
4,080 SF · lease $17.04/SF/yr · vacancy 7.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$600.4K
$525.3K – $700.5K
NOI $42,027 @ 7.0% cap · market cap 7.94%
Second Best
Warehouse
$463.8K
$405.9K – $541.2K
NOI $32,469 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$886.3K
$775.5K – $1.03M
NOI $62,042 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Barks and Rec.
Animal Training
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Adaptable 4,080 SF commercial space with warehouse and office areas.
Where is this flex space located?
The property is located at 1859 Southpeak Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: High‑traffic location in Traverse City with excellent visibility and access.; Large, adaptable 4,080 sq ft interior suitable for various business uses.; Over 2,000 sq ft of climate‑controlled warehouse space with **16‑foot ceilings**.
