Custom Truss Flex
For Sale
$127,900
3032 Luxury Barn Lane, Traverse City, MI 49685
Owner-ready flex barn with insulated electric roll-up door, 200-amp service, and concrete slab floor.
Property Size1,200 SF
Price / SF$106.58
Days on Market349
Property Features for 3032 Luxury Barn Lane
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Mixed Use
Additional Details
Utilities to Site
Yes
Clear Height
14.3 ft
Amenities
Electric
Concrete
3
Metal
Parking. Corner Lot.
Assigned Parking Space.
Overhead Doors. Corner, Private Roads, None.
Building Details
Year Built
2025
Listing Agency:
Key Realty One-tc
(231) 492-4062
Listed By:
Jennifer Kreta · License #6501421253
(231) 492-4062
Source:
Xome
Added: Sep 8, 2025
Changed: Aug 12
Last Checked: Aug 21 at 5:11AM
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 Key Realty One-tc
Investment Insights
Based on property information with market context.
This custom-truss flex barn features dimensions of 30 feet wide by 40 feet long with 14 feet 4 inches tall sidewalls. The building includes a reinforced truss and ceiling system, owner-furnished exterior wrap and insulation elements, and a finished interior ceiling and front wall with white finished steel plus attic access. Interior improvements include a concrete slab floor with pressure crack relief cuts and a full 4-foot owner’s apron area, along with R-50 ceiling insulation. There is a 12x12 insulated flat-panel door with an electric garage door opener, and a separate commercial front access door with keypad access and Lockguard Security Protection. The exterior includes exterior steel siding and real stone on the front.
The property is located at 3032 Luxury Barn Lane Unit 37 in Traverse City, Michigan, and is described as owner-managed for utilities with separate gas and electric metering.
The building’s electrical package provides a 200-amp electrical service and includes ceiling fans, with the utility meters managed by the owner. The exterior also notes pressure-conscious protection elements and perimeter insulation improvements.
The property is located at 3032 Luxury Barn Lane Unit 37 in Traverse City, Michigan, and is described as owner-managed for utilities with separate gas and electric metering.
The building’s electrical package provides a 200-amp electrical service and includes ceiling fans, with the utility meters managed by the owner. The exterior also notes pressure-conscious protection elements and perimeter insulation improvements.
Key Highlights
- Newly built 2025 flex barn with metal roof and concrete slab floor
- 30' x 40' x 14' 4" tall building; 5x6 spaced sidewalls with endwell posts approx. 8' o.c.
- Insulated electric roll‑up door: 12' x 12', 2‑inch thick R16.4 flat panel insulated door with electric opener
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,993
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$139,860
$139.9K
Cap Rate 7%
$99,900
$99.9K
Cap Rate 9%
$77,700
$77.7K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$10.8K $9.00/SF
− Vacancy
−$810 −$0.68/SF
EGI
$10.0K $8.33/SF
− OpEx
−$3.0K −$2.50/SF
NOI
$7.0K $5.83/SF
Area
Grand Traverse County, MI
Vacancy
7.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$139,860
Cap Rate 7%
$99,900
Cap Rate 9%
$77,700
Alternative Uses
Best Use
Flex RnD
$176.6K
$154.5K – $206.0K
NOI $12,361 @ 7.0% cap · market cap 9.66%
Second Best
Industrial
$99.9K
$87.4K – $116.6K
NOI $6,993 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49685, MI
20,856
Population
9,395
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
54.2 sq mi
ZIP Area
385
Density / Sq Mi
$82,639
Median Household Income
$45,783
Median Earnings
$1,338
Median Rent
$309,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Owner-ready flex barn with insulated electric roll-up door, 200-amp service, and concrete slab floor.
Where is this flex space located?
The property is located at 3032 Luxury Barn Lane Traverse City, MI.
What is the asking price?
The asking price for this property is $127,900.
What are key features of this property?
This property features: Newly built 2025 flex barn with metal roof and concrete slab floor; 30' x 40' x 14' 4" tall building; 5x6 spaced sidewalls with endwell posts approx. 8' o.c.; Insulated electric roll‑up door: 12' x 12', 2‑inch thick R16.4 flat panel insulated door with electric opener
