Steel Flex Space with Garage
For Sale
$154,900
3042 Luxury Barn Lane, Traverse City, MI 49685
Commercial, Traverse City, MI
Property Size1,200 SF
Price / SF$129.08
Days on Market438
Property Features for 3042 Luxury Barn Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Assigned
Exterior features
Steel
Lot features
Corner Lot
Directions
7 miles south of Traverse City on M-37, or 2 miles south of Chum's Corners. Located at the second roundabout coming from Traverse City. Property is on the south/east side of the road on the corner of M-37 and W Blair Townhall Rd.
Subdivision
Grand Traverse
Standard status
Active
Size
1,200 SF
Taxes and HOA fees
HOA Fee
$358 Annually
Building Details
Building materials
Steel, Under Construction
Roof type
Metal
Listing Agency:
Key Realty One-TC
(231) 559-0351
Listed By:
Jennifer Kreta · License #6501421253
(231) 492-4062
Added: Aug 26, 2025
Changed: Oct 8
Last Checked: Nov 6 at 5:06AM
MLS# 1937953
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.
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Investment Insights
Based on property information with market context.
This 1,200-square-foot flex space is under construction with a steel exterior, metal roof, concrete slab floor, and epoxy floor finish. The building includes a 12-by-12 insulated overhead door with electric opener, a keypad-controlled commercial entry door, and 14 feet 4 inches of sidewall height. Interior improvements include a finished steel ceiling and front wall, attic access, R-50 ceiling insulation, and a mini-split system for heating and air conditioning.
Electrical infrastructure includes 200-amp service and an owner-managed electric meter. The structure also features a 30-by-40-foot footprint, insulated envelope components, concrete-filled garage door bollards, and a four-foot owner apron. Located at 3042 Luxury Barn Lane in Traverse City, the property includes assigned parking.
Electrical infrastructure includes 200-amp service and an owner-managed electric meter. The structure also features a 30-by-40-foot footprint, insulated envelope components, concrete-filled garage door bollards, and a four-foot owner apron. Located at 3042 Luxury Barn Lane in Traverse City, the property includes assigned parking.
Key Highlights
- 1,200 SF steel flex space under construction
- 30' wide x 40' long footprint with 14' 4" sidewalls
- 12x12 insulated overhead door with electric opener
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,361
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,220
$247.2K
Cap Rate 7%
$176,586
$176.6K
Cap Rate 9%
$137,344
$137.3K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$20.4K $17.04/SF
− Vacancy
−$1.4K −$1.19/SF
EGI
$19.0K $15.85/SF
− OpEx
−$6.7K −$5.55/SF
NOI
$12.4K $10.30/SF
Area
Grand Traverse County, MI
Vacancy
7.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,220
Cap Rate 7%
$176,586
Cap Rate 9%
$137,344
Alternative Uses
Best Use
Flex RnD
$176.6K
$154.5K – $206.0K
NOI $12,361 @ 7.0% cap · market cap 7.98%
Second Best
Warehouse
$136.4K
$119.4K – $159.2K
NOI $9,550 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction steel flex space with climate control, epoxy flooring, and commercial electrical service.
Where is this flex space located?
The property is located at 3042 Luxury Barn Lane Traverse City, MI.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: 1,200 SF steel flex space under construction; 30' wide x 40' long footprint with 14' 4" sidewalls; 12x12 insulated overhead door with electric opener
