232 E State Street, Traverse City, MI 49684

Building Details

Building materials

Steel, Under Construction

Roof type

Membrane

Listing agent Kevin Endres License #6505352968 Show Phone

Listing office Three West, LLC k***@threewest.com 1131 E Eighth Street, Traverse City, MI Show Phone

Listing date May 12, 2026

Report an issue

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.

---

Overview

This for-sale tenant-occupied retail condominium totals 2,270 square feet and was constructed in 2025. The space is offered as an NNN property, and it is currently leased. The lease commenced in November 2025 and runs for an initial term of 10 years, with two renewal options.

Located at 232 E State Street in Traverse City, Michigan, the property is positioned within the downtown area. The asset is being marketed as a commercial condo opportunity with available lease and financial information for qualified parties.

For buyers seeking a stabilized retail investment, this offering provides an actively leased, recently constructed setup under a long-term NNN structure. Lease details and supporting materials are available with a signed NDA and proof of funds, enabling interested parties to evaluate the current tenant arrangement and the renewal provisions. The property’s configuration as a standalone retail condo can also appeal to investors looking to acquire a single, defined commercial unit rather than a multi-tenant arrangement. Please contact for additional information and to begin the NDA process.

Suggested Use

Auto Parts Store Big Box & Wholesale Store Auto Repair Shop Electrical Service HVAC Service Pet Store Electronics & Wireless Store Daycare Center Grocery & Convenience Store Pet Store & Service

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

-85.619517

Latitude

44.762601

Nearby Similar for Sale

• 

  $1,399,000

  3,640 SF

  Event Center with 120-Seat Hall

  Renovated gathering hall with separate room seating plus an on-site residence on 5 acres.

  1776 High Lake Road, Traverse City, MI 49696

  View Details
• 

  $869,900

  5,632 SF

  Two- Building Flex and Warehouse

  Two-building campus includes a leased office and a heated warehouse/shop with fenced yard and four overhead doors.

  820 Duell Road, Traverse City, MI 49686

  View Details
• 

  $675,000

  3,294 SF

  Single-Floor Office Condo with Storage

  Single-floor office condominium offers adjoining unit space with multiple private offices and shared common amenities.

  920 S Garfield Avenue, Traverse City, MI 49686

  View Details
• 

  $4,950,000

  54,000 SF

  Industrial Property with Dual Access

  Industrial-zoned site with eight buildings and dual access for warehouse, service, or light industrial uses.

  1500 Barlow Street, Traverse City, MI 49684

  View Details
• 

  $1,850,000

  6,028 SF

  Downtown Office Suite with Private Offices

  Office suite with 12 private offices and flexible open space, supported by access-controlled entry and security features.

  101 Park Street, Traverse City, MI 49684

  View Details
• 

  $854,000

  2,849 SF

  New Downtown Retail/Office Condo

  A 2025-constructed commercial condo suited for either retail or professional office use in downtown Traverse City.

  232 E State Street, Traverse City, MI 49684

  View Details
• 

  $349,900

  1,504 SF

  Corner Office Building with Meeting Room

  Corner office building includes a reception area, kitchen/breakroom, restroom, and large meeting space.

  3415 Veterans Drive, Traverse City, MI 49684

  View Details
• 

  $532,000

  2,800 SF

  To-Be-Built Aviation Hangar Units

  Co-op purchase of heated, insulated hangars sized for general aviation aircraft storage at Cherry Capital Airport.

  1218 Boon Street, Traverse City, MI 49686

  View Details
• 

  $523,000

  2,800 SF

  To-Be-Built Heated Hangar Units

  New, insulated and heated hangar units sized for general aviation storage, with modern finishes and shared restroom access.

  1218 Boon Street, Traverse City, MI 49686

  View Details
• 

  $532,000

  2,800 SF

  To-Be-Built Heated Hangar Units

  Purchase co-op shares granting exclusive rights to heated, insulated hangar space for general aviation aircraft storage.

  1218 Boon Street, Traverse City, MI 49686

  View Details
• 

  $150,000

  727 SF

  Single-Floor Office Condo with HVAC

  Single-floor office condominium with individual HVAC, private offices, reception area, and basement storage plus onsite parking.

  920 S Garfield Avenue, Traverse City, MI 49686

  View Details
• 

  $1,598,000

  7,990 SF

  Assisted Living Campus with Two Homes

  Two former assisted living-style homes on one campus feature barrier-free interiors and walkout basements for flexible occupancy.

  3205 Supply Road, Traverse City, MI 49686

  View Details

FAQs

What type of property is this?

Retail space - Newly constructed retail condo with tenant in-place under a 10-year NNN lease.

Where is this retail space 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