Newly Built Retail/Office
For Lease
$22 SF/Yr
232 E State Street, Traverse City, MI 49684
COMMERCIAL - Traverse City, MI
Space Size2,849 SF
Lot Size0.16 Acres
Days on Market103
Property Features for 232 E State Street
General Information
Property type
Commercial Lease
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
2,849 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 22 at 5:06PM
MLS# 1945010
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 for-rent commercial condo space was constructed in 2025 and totals 2,849 square feet. It is suited to either retail or professional office use, offering a fresh, newer build for an organization looking to establish a space in a central downtown environment.
The property is located at 232 E State Street in Traverse City, in Grand Traverse County. The listing position describes it as a downtown retail/office opportunity in the heart of the city.
As presented, the space is a purpose-built commercial condo with modern construction and flexible retail/office compatibility.
The property is located at 232 E State Street in Traverse City, in Grand Traverse County. The listing position describes it as a downtown retail/office opportunity in the heart of the city.
As presented, the space is a purpose-built commercial condo with modern construction and flexible retail/office compatibility.
Key Highlights
- 2,849 SF commercial condo space for retail or professional office use
- Constructed in 2025
- Brick exterior with steel construction
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$3.30 /SF/Yr
CAM
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
Lease Benchmarks for Traverse City, MI
$23.38 /SF/Yr
Avg Asking Price
$8.34–$56.57 /SF/Yr
Price Range
3,227 SF
Avg Space Size
This space is priced 6% below the average of $23.38 /SF/Yr.
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 - Commercial condo space built in 2025, offered for rent at 232 E State Street.
Where is this office units located?
The property is located at 232 E State Street Traverse City, MI.
What is the lease rate?
The lease rate is $22 SF/Yr.
What are key features of this property?
This property features: 2,849 SF commercial condo space for retail or professional office use; Constructed in 2025; Brick exterior with steel construction
