Warehouse Office Flex
2883 Aero Park Drive Traverse Traverse City, MI 49686
2883 Aero Park Drive Traverse, Traverse City, MI, 49686
$775,000
For Sale
$775,000
Versatile warehouse and office layout with an indoor loading dock, 10 private offices, and dedicated shower plus laundry hookups.
Property Size10,480 SF
Price / SF$73.95
Days on Market30
Property Features for 2883 Aero Park Drive Traverse
General Information
- Standard status
- Active
- Size
- 10,480 SF
- Property subtype
- Warehouse
Building Details
- Year Built
- 1995
Listing agency
Coldwell Banker Commercial Schmidt Realtors
(231) 633-0432
Listed by
Dan Stiebel · License #6506040160
(231) 633-0432
Source
Thebrokerlist
Added: Jun 22 Updated: Jul 21 at 5:39AM Checked: Jul 21 at 5:39AM
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 Coldwell Banker Commercial Schmidt Realtors
Investment Insights
Based on property information with market context.
This versatile flex building combines warehouse space with office improvements designed to support both production and administration. The warehouse includes an indoor loading dock accessed via an overhead door, helping keep receiving and shipping activity protected from the elements year-round. The open warehouse floor area is set up for pallet racking, and forklift capabilities are noted as potentially included. Office space includes 10 private offices, a large conference room, and a spacious break room. The building also provides four bathrooms, including two multi-stall restrooms, along with a dedicated shower and washer/dryer hookups.
Located in Traverse City’s Aero Park Industrial Park, the property is described as just west of the Aero Park Dr and Three Mile intersection in the Airport Industrial Park area. It is offered for sale.
The overall configuration supports an owner-user or tenant requiring a combined operational and office environment, with dock access and internal office amenities already in place.
Located in Traverse City’s Aero Park Industrial Park, the property is described as just west of the Aero Park Dr and Three Mile intersection in the Airport Industrial Park area. It is offered for sale.
The overall configuration supports an owner-user or tenant requiring a combined operational and office environment, with dock access and internal office amenities already in place.
Key Highlights
- 10,480 SF warehouse‑and‑office building built in 1995 in Traverse City’s Aero Park Industrial Park.
- Indoor loading dock with an overhead door helps keep receiving and shipping activity protected from the elements year‑round.
- Open warehouse floor area is set up for pallet racking; forklift may be included.
Local 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 | $94.3k | $9.00 |
| − Vacancy | −$7.1k | −$0.68 |
| EGI | $87.2k | $8.33 |
| − OpEx | −$26.2k | −$2.50 |
| NOI | $61.1k | $5.83 |
10,480 SF · lease $9.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $112,241 @ 7.0% cap · market cap 14.48%
Second Best
Flex RnD
$1.54M
$1.35M – $1.80M
NOI $107,951 @ 7.0% cap · market cap 13.93%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,363 @ 7.0% cap · market cap 20.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Versatile warehouse and office layout with an indoor loading dock, 10 private offices, and dedicated shower plus laundry hookups.
Where is this flex space located?
The property is located at 2883 Aero Park Drive Traverse Traverse City, MI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 10,480 SF warehouse‑and‑office building built in 1995 in Traverse City’s Aero Park Industrial Park.; Indoor loading dock with an overhead door helps keep receiving and shipping activity protected from the elements year‑round.; Open warehouse floor area is set up for pallet racking; forklift may be included.
