Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Land Near Blain's Farm Title is generated by Realmo AI

    210 US-31, Traverse City, MI 49685

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Outparcels near Blain’s Farm & Fleet on US-31 South.

    Type:Land
    Added:
    May 11, 2023
    Days on Market:
    1109
    Last Refresh:
    May 12 at 11:35 pm

    Property Features for 210 US-31

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Anthony J. Vitale
    Anthony J. Vitale

    Listing agent Anthony J. Vitale License #6505422306

    Listing office Landmark Commercial Real Estate Services

    Listing date May 11, 2023

    Source Crexi

    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 Landmark Commercial Real Estate Services

    HighLights

    • Located on US‑31 South, the main thoroughfare in Traverse City.
    • Three outparcels available.
    • Located on the corner of US‑31 South & Rennie School Rd.
    • Outparcels are to Blain’s Farm & Fleet.

    Overview

    Three outparcels are available near Blain’s Farm & Fleet, situated at the corner of US-31 South and Rennie School Rd. The location is on US-31 South, a primary thoroughfare in Traverse City.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.654286
    Latitude
    44.683206

    Nearby Similar for Sale

    • $380,000
      3,352 SF

      Mixed-Use Building in Traverse City

      3,352 SF mixed-use building on 0.526 acres for sale.
      571 Blue Star, Traverse City, MI 49685
      View Details
    • $785,000
      6,571 SF

      Traverse City Warehouse with Fenced Yard

      6,571 SF warehouse with fenced yard in Chums Corner.
      3773 Rennie School Road, Traverse City, MI 49685
      View Details
    • $675,000
      3,294 SF

      Traverse City Office Condominium

      Single-story office condominium in a wooded Traverse City office park.
      920 S Garfield Avenue, Traverse City, MI 49686
      View Details
    • $854,000
      2,849 SF

      Downtown Traverse City Retail/Office Condo

      New 2,849 SF commercial condo in Traverse City, MI.
      232 E State Street, Traverse City, MI 49684
      View Details
    • $498,000
      2,843 SF

      Modern Office Space in Traverse

      Spacious office in Traverse City with ample parking.
      10161 E Pickwick Court, Traverse City, MI 49684-1490
      View Details
    • $850,000
      3,995 SF

      Former Assisted Living Facility

      Large home suitable for various uses in Traverse City.
      3255 Mahoney Drive, Traverse City, MI 49686
      View Details
    • $150,000
      727 SF

      Traverse City Office Condominium

      Single-story office condo with basement storage and ample parking.
      920 S Garfield Avenue, Traverse City, MI 49686
      View Details
    • $685,000
      4,789 SF

      Traverse City Redevelopment Opportunity

      Redevelopment or re-use project in bustling Traverse City!
      114 E Griffin Street, Traverse City, MI 49684
      View Details
    • $850,000
      3,995 SF

      Former Assisted Living Facility

      Large property suitable for various uses in Traverse City.
      3205 Supply Road, Traverse City, MI 49686
      View Details
    • $950,000
      2,270 SF

      Traverse City Commercial Condo Investment

      Tenant-occupied commercial condo in downtown Traverse City with long-term lease.
      232 E State Street, Traverse City, MI 49684
      View Details
    • $610,000
      2,034 SF

      Downtown Traverse City Retail/Office Condo

      2,034 SF commercial condo in the heart of Traverse City.
      232 E State Street, Traverse City, MI 49684
      View Details
    • $575,000

      Ready-to-Build Vacant Land Parcel

      Rare vacant parcel in thriving area with exceptional development flexibility.
      1818 N US-31, Traverse City, MI 49686
      View Details

    FAQs

    What type of property is this?
    Commercial land - Outparcels near Blain’s Farm & Fleet on US-31 South.
    Where is this commercial land located?
    The property is located at 210 US-31 Traverse City, MI.
    What are key features of this property?
    This property features: Located on US‑31 South, the main thoroughfare in Traverse City.; Three outparcels available.; Located on the corner of US‑31 South & Rennie School Rd.
    (248) 488-2620 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Anthony J. Vitale
    Anthony J. Vitale
    Real Estate License ID: 6505422306
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    210 US-31, Traverse City, MI 49685
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!