Insulated Warehouse with Garage
For Sale
$154,900
31-3042 Luxury Barn Ln, Traverse City, MI
Finished steel interiors, controlled access, climate equipment, and dedicated electrical service support practical operations.
Property Size1,200 SF
Price / SF$129.08
Days on Market423
Property Features for 31-3042 Luxury Barn Ln
General Information
Standard status
Active
Size
1,200 SF
Additional Details
Power
200 amps
Building Details
Building Size
1,200 SF
Listing Agency:
Key Realty One-TC
Listed By:
Jennifer Kreta · License #6501421253
(231) 492-4062
Source:
Exprealty
Added: Aug 26, 2025
Changed: Oct 14
Last Checked: Oct 20 at 11:30PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,200-square-foot warehouse building measures 30 feet by 40 feet, with 14 feet 4 inches of sidewall height. Construction includes custom trusses, exterior steel siding, a concrete slab floor, and a full 4-foot owner’s apron. The interior ceiling and front wall feature finished white steel, with attic access and an epoxy floor.
The building includes a 12-by-12 insulated overhead door with an electric opener, a keypad-equipped commercial entry door, and bollards at the garage opening. Insulation includes R-50 at the ceiling and additional perimeter foam, while a mini-split system provides heat and air conditioning. Electrical infrastructure consists of 200-amp service and an owner-managed electric meter. The property is located at 31-3042 Luxury Barn Ln in Traverse City, Michigan.
The building includes a 12-by-12 insulated overhead door with an electric opener, a keypad-equipped commercial entry door, and bollards at the garage opening. Insulation includes R-50 at the ceiling and additional perimeter foam, while a mini-split system provides heat and air conditioning. Electrical infrastructure consists of 200-amp service and an owner-managed electric meter. The property is located at 31-3042 Luxury Barn Ln in Traverse City, Michigan.
Key Highlights
- 1,200 SF warehouse building measuring 30' x 40'
- 14' 4" sidewalls with custom truss construction
- 12' x 12' insulated overhead door with electric opener
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,550
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,000
$191.0K
Cap Rate 7%
$136,429
$136.4K
Cap Rate 9%
$106,111
$106.1K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$12.0K $9.96/SF
− Vacancy
−$717 −$0.60/SF
EGI
$11.2K $9.36/SF
− OpEx
−$1.7K −$1.40/SF
NOI
$9.5K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,000
Cap Rate 7%
$136,429
Cap Rate 9%
$106,111
Alternative Uses
Best Use
Warehouse
$136.4K
$119.4K – $159.2K
NOI $9,550 @ 7.0% cap · market cap 6.17%
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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Warehouse - Finished steel interiors, controlled access, climate equipment, and dedicated electrical service support practical operations.
Where is this warehouse located?
The property is located at 31-3042 Luxury Barn 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: 1,200 SF warehouse building measuring 30' x 40'; 14' 4" sidewalls with custom truss construction; 12' x 12' insulated overhead door with electric opener
