Tenant-Occupied Office
For Sale
$950,000
232 E State Street, Traverse City, MI 49684
COMMERCIAL - Traverse City, MI
Property Size2,270 SF
Lot Size0.16 Acres
Price / SF$418.50
Days on Market104
Property Features for 232 E State Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Exterior features
Brick
Lot features
Inside Lot
Directions
South side of E State St between Cass St and Park St.
Subdivision
Grand Traverse
Standard status
Active
Size
2,270 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Part of UNIT 92 - BOARDWALK CONDO GTC CONDO SUB PLAN NO 517 2023C-00057 MASTER DEED FILED DECEMBER 12, 2023. SPLIT/COMBINED ON 12/15/2023 FROM 28-51-794-088-00 CREATING CHILDREN 28-51-164-000-00 THRU 28-51-164-092-00;
Legal Description
Part of UNIT 92 - BOARDWALK CONDO GTC CONDO SUB PLAN NO 517 2023C-00057 MASTER DEED FILED DECEMBER 12, 2023. SPLIT/COMBINED ON 12/15/2023 FROM 28-51-794-088-00 CREATING CHILDREN 28-51-164-000-00 THRU 28-51-164-092-00;
Building Details
Building materials
Steel, Under Construction
Roof type
Membrane
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Kevin Endres · License #6505352968
(231) 534-5225
Added: May 12
Changed: Aug 4
Last Checked: Aug 23 at 7:06AM
MLS# 1945006
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.
This tenant-occupied commercial condo offers 2,270 square feet of office space and was constructed in 2025. The property is tied to a 10-year NNN lease that began in November 2025 and includes two renewal options. Financial information is available with a signed NDA and proof of funds.
Located at 232 E State Street in Traverse City, Michigan, the asset is positioned as a downtown investment opportunity in Grand Traverse County. The current lease structure provides the framework for predictable occupancy through the initial term.
As a newer office condo, the space is delivered as a single, tenant-occupied offering under its existing lease arrangement.
Located at 232 E State Street in Traverse City, Michigan, the asset is positioned as a downtown investment opportunity in Grand Traverse County. The current lease structure provides the framework for predictable occupancy through the initial term.
As a newer office condo, the space is delivered as a single, tenant-occupied offering under its existing lease arrangement.
Key Highlights
- 2,270 SF tenant‑occupied commercial condo space in downtown Traverse City, MI
- Constructed in 2025 with steel construction and brick exterior
- Tenant has a 10‑year NNN lease that began in November 2025 with two renewal options
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,085
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Newly constructed office condo is tenant occupied under a 10-year NNN lease.
Where is this office units located?
The property is located at 232 E State Street Traverse City, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,270 SF tenant‑occupied commercial condo space in downtown Traverse City, MI; Constructed in 2025 with steel construction and brick exterior; Tenant has a 10‑year NNN lease that began in November 2025 with two renewal options
