Office Property with Shop
New
For Sale
$1,975,000
225 E Fourteenth Street, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size8,944 SF
Lot Size0.91 Acres
Price / SF$220.82
Days on Market2
Property Features for 225 E Fourteenth Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Parking Lot
Exterior features
Block, Steel
Lot features
Inside Lot, Freestanding
Directions
North side of E fourteenth St between Cass St and Lake Ridge Dr.
Subdivision
Grand Traverse
Standard status
Active
Size
8,944 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Description
Lengthy see documents.
Legal Description
Lengthy see documents.
Amenities
conference room
collaborative bar-height work area
garage-door shop
storage space
Building Details
Building materials
Block
Roof type
Membrane
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Kevin Endres · License #6505352968
(231) 534-5225
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 13 at 5:06AM
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.
Investment Insights
Based on property information with market context.
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
640
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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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
