Traverse City Industrial Investment
For Sale
Contact for pricing
3054 Cass Rd, Traverse City, MI 49684
Stabilized industrial asset in Traverse City with value-add upside.
Property Size18,037 SF
Price / SF$69.30
Days on Market223
Property Features for 3054 Cass Rd
General Information
Standard status
Active
Size
18,037 SF
Class
A
Property subtype
Industrial, Mixed Use
Zoning
Industrial
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$91,956
Building Details
Year Built
1961
Year Renovated
2015
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Evan DeCiantis
Listed By:
Mark Floria · License #MI 6501347381
Source:
Crexi
Added: Feb 24
Changed: Oct 4
Last Checked: Oct 4 at 9:08AM
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 Evan DeCiantis
Investment Insights
Based on property information with market context.
Safe Harbor Warehouse presents an industrial investment opportunity in the Traverse City market. The property has 16,915 rentable square feet and is 100% occupied, with a diversified multi-tenant rent roll. The asset generates cash flow with current rents below market, creating potential for future NOI growth through lease renewals and rate adjustments. The property has flexible industrial zoning and is near Cherry Capital Airport and downtown Traverse City. The property is 18,037 square feet.
Key Highlights
- 100% physical and economic occupancy with a diversified multi‑tenant rent roll.
- Strong in‑place cash flow with below‑market rents, offering potential for NOI growth.
- Highly desirable Traverse City market location.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,111
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,102,220
$2.1M
Cap Rate 7%
$1,501,586
$1.5M
Cap Rate 9%
$1,167,900
$1.2M
Market Conditions
NOI Build-Up for 18,037 SF
Gross rent
$162.3K $9.00/SF
− Vacancy
−$12.2K −$0.68/SF
EGI
$150.2K $8.33/SF
− OpEx
−$45.0K −$2.50/SF
NOI
$105.1K $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 Rate 5%
$2,102,220
Cap Rate 7%
$1,501,586
Cap Rate 9%
$1,167,900
Alternative Uses
Best Use
Mixed Use
$2.20M
$1.92M – $2.56M
NOI $153,878 @ 7.0% cap · market cap 12.31%
Second Best
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,539 @ 7.0% cap · market cap 11.48%
Theoretical Best
Office A
$3.92M
$3.43M – $4.57M
NOI $274,278 @ 7.0% cap · market cap 21.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Stabilized industrial asset in Traverse City with value-add upside.
Where is this mixed-use property located?
The property is located at 3054 Cass Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 100% physical and economic occupancy with a diversified multi‑tenant rent roll.; Strong in‑place cash flow with below‑market rents, offering potential for NOI growth.; Highly desirable Traverse City market location.
