Clear-Span Industrial Warehouse with
2364 Traversefield Dr Traverse City, MI 49686
For Sale
$3,500,000
42,000 SF fully sprinklered industrial warehouse with 28' eaves, covered loading, and an on-site finished office suite.
Property Size42,000 SF
Lot Size5.40 Acres
Price / SF$83.33
Days on Market9
Property Features for 2364 Traversefield Dr
General Information
Standard status
Active
Size
42,000 SF
Lot size
5.40 Acres
Property subtype
Commercial
Building Details
Year Built
1999
Listing Agency:
Three West, LLC
(231) 534-5225
Listed By:
Kevin L Endres · License #6505352968
(231) 534-5225
Source:
Elliman
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 10:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Three West, LLC
Investment Insights
Based on property information with market context.
2364 Traversefield Drive presents a 42,000 SF clear-span industrial warehouse situated on 5.40 acres within Traverse City’s Traversefield Enterprise Place. The building offers 350’ clear-span with a 120’ wide floor plate and 28’ eaves. A 2012 renovation added a 2,160 SF finished office suite with reception, showroom, private offices, and a break room with a storage mezzanine above, served by a dedicated public entry.
Loading is designed for flexibility with a ±15,000 SF covered dock featuring two dock-height doors plus a grade-level drive-in. The fully sprinklered facility is supported by heavy power and 125 psf floor loads.
The property is leased triple-net through March 2027, providing income from day one. Site planning also contemplates a future 15,000 SF office addition, supporting long-term flexibility for an owner-user or investor.
Loading is designed for flexibility with a ±15,000 SF covered dock featuring two dock-height doors plus a grade-level drive-in. The fully sprinklered facility is supported by heavy power and 125 psf floor loads.
The property is leased triple-net through March 2027, providing income from day one. Site planning also contemplates a future 15,000 SF office addition, supporting long-term flexibility for an owner-user or investor.
Key Highlights
- 42,000 SF fully sprinklered industrial warehouse on 5.40 acres in Traversefield Enterprise Place
- Clear‑span warehouse with 350' x 120' floor plate and 28' eaves
- Loading includes a 15,000 SF covered dock with two dock‑height doors plus a grade‑level drive‑in
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $378.0k | $9.00 |
| − Vacancy | −$28.4k | −$0.68 |
| EGI | $349.7k | $8.33 |
| − OpEx | −$104.9k | −$2.50 |
| NOI | $244.8k | $5.83 |
42,000 SF · lease $9.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$6.18M
$5.41M – $7.21M
NOI $432,629 @ 7.0% cap · market cap 12.36%
Second Best
Warehouse
$4.77M
$4.18M – $5.57M
NOI $334,238 @ 7.0% cap · market cap 9.55%
Theoretical Best
Office A
$9.12M
$7.98M – $10.64M
NOI $638,669 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Allied Van Lines — 2040 Traversefield Dr #100, Traverse City, MI 49686
Frequently Asked Questions
What type of property is this?
Warehouse - 42,000 SF fully sprinklered industrial warehouse with 28' eaves, covered loading, and an on-site finished office suite.
Where is this warehouse located?
The property is located at 2364 Traversefield Dr Traverse City, MI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 42,000 SF fully sprinklered industrial warehouse on 5.40 acres in Traversefield Enterprise Place; Clear‑span warehouse with 350' x 120' floor plate and 28' eaves; Loading includes a 15,000 SF covered dock with two dock‑height doors plus a grade‑level drive‑in
