Craftsman Commercial Building with
For Sale
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3055 Man Cave Ln, Traverse City, MI 49685
Custom 1200 sq ft commercial building with premium features.
Property Size1,200 SF
Price / SF$129.08
Days on Market167
Property Features for 3055 Man Cave Ln
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Mixed Use
Zoning
Commercial
Building Details
Year Built
2023
Listing Agency:
Key Realty Traverse City
Listed By:
Jen Kreta · License #MI
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 23 at 3:02PM
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 Traverse City
Investment Insights
Based on property information with market context.
This 1200 sq ft Borkholder Craftsman commercial building features custom trusses and measures 30 feet wide by 40 feet long with 14' 4" tall sidewalls. The structure includes 5x6 sidewalls spaced 8 feet on center and endwell posts approximately 8 feet on center, with trusses every 4 feet. It has a 4/12 60 GS truss with ceiling load. Construction includes Typar or similar Guard Wrap house wrap, a 4 mil clear polyethylene vapor barrier, and an additional 2-inch foam on the perimeter. The exterior features Kynar 500 paint upgrade with exterior premiere steel siding, 29G Ultra Rib Max with wanes coating, and real stone on the front. Interior walls are covered with white finished steel, and the floors have a full broadcast epoxy finish. A 12x12 high-quality, 2-inch thick R16.4 flat panel insulated door includes an electric garage door opener. There is also a commercial front access door with keypad access and Lockguard Security Protection. Garage door bollards are present. The concrete slab floor has pressure crack relief cuts and a full 4-foot owners apron. The building is fully insulated with R-19 walls and R-50 ceiling. It features 200-amp electrical service with a full build-out electric package and ceiling fans. Owner-managed utility meters are installed for gas and electric. The building is fully constructed for heat with a 45,000 BTU natural gas hanging unit, exhaust, and thermostat. It also includes an epoxy floor, a 500-gallon water system, and a utility sink. A mezzanine is included.
Key Highlights
- 12x12 High Quality, R16.4 Insulated Door with electric opener.
- Fully Insulated: Walls R‑19, Ceiling R‑50.
- Enjoy the durability and sleek look of Full Broadcast Epoxy Floors.
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
$10,238
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
6.61%
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%
$204,760
$204.8K
Cap Rate 7%
$146,257
$146.3K
Cap Rate 9%
$113,756
$113.8K
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
$18.0K $15.00/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$16.4K $13.65/SF
− OpEx
−$6.1K −$5.12/SF
NOI
$10.2K $8.53/SF
Area
Grand Traverse County, MI
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$204,760
Cap Rate 7%
$146,257
Cap Rate 9%
$113,756
Alternative Uses
Best Use
Mixed Use
$146.3K
$128.0K – $170.6K
NOI $10,238 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Custom 1200 sq ft commercial building with premium features.
Where is this mixed-use property located?
The property is located at 3055 Man Cave Ln 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: 12x12 High Quality, R16.4 Insulated Door with electric opener.; Fully Insulated: Walls R‑19, Ceiling R‑50.; Enjoy the durability and sleek look of Full Broadcast Epoxy Floors.
