Office Property with Shop
225 E Fourteenth Street, Traverse City, MI 49684
For Sale
$1,975,000
Commercial, Traverse City, MI
Property Size8,944 SF
Lot Size0.91 Acres
Price / SF$220.82
Days on Market30
Property Features for 225 E Fourteenth Street
General Information
Property type
Property subtype
Zoning description
Parking features
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Additional Details
Property Use
Condition
Taxes and HOA fees
Tax Description
Legal Description
Building Details
Building materials
Roof type
Buildings
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Kevin Endres · License MI #6505352968
(231) 534-5225
Added: Oct 12
Changed: Nov 2
Last Checked: Nov 10 at 12:06PM
MLS# 1951532
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
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The property brings together two connected buildings totaling 8,944 square feet. The primary office building contains 6,692 square feet and received extensive remodeling in 2023; an adjoining 2,252-square-foot building adds a garage-door shop and storage area. Office interiors include glass-partitioned private offices, a conference room, an open lobby, and a bar-height collaborative workspace. A glass entry and accessible ramp serve the main building, with block and steel exterior elements and a membrane roof.
At 225 E Fourteenth Street in Traverse City, the site includes a parking lot. The connected layout combines dedicated office areas with additional shop and storage space on the same property.
At 225 E Fourteenth Street in Traverse City, the site includes a parking lot. The connected layout combines dedicated office areas with additional shop and storage space on the same property.
Key Highlights
- Two connected buildings total 8,944 square feet
- Primary office building measures 6,692 SF and was extensively remodeled in 2023
- Companion building provides 2,252 SF, including garage‑door shop and storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,790
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,915,800
$1.9M
Cap Rate 7%
$1,368,429
$1.4M
Cap Rate 9%
$1,064,333
$1.1M
Market Conditions
NOI Build-Up for 8,944 SF
Gross rent
$150.3K $16.80/SF
− Vacancy
−$22.5K −$2.52/SF
EGI
$127.7K $14.28/SF
− OpEx
−$31.9K −$3.57/SF
NOI
$95.8K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,915,800
Cap Rate 7%
$1,368,429
Cap Rate 9%
$1,064,333
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,790 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,006 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
640
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 Office buildings in Traverse City, MI
Properties on Market for Office buildings in Traverse City
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two connected buildings combine updated office areas, flexible shop and storage space, and on-site parking.
Where is this office building located?
The property is located at 225 E Fourteenth Street Traverse City, MI.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Two connected buildings total 8,944 square feet; Primary office building measures 6,692 SF and was extensively remodeled in 2023; Companion building provides 2,252 SF, including garage‑door shop and storage space
