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    Waterfront Office Building with Views Title is generated by Realmo AI

    315 E Front St, Traverse City, MI 49684

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    For Lease
    $18 SF/Yr $36,270/Mo (calc)

    Four-story downtown office with abundant natural light and premier, unobstructed Boardman River and bay views.

    Type:Office
    Property size:
    24,180 SF
    Added:
    May 26, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 3 at 2:35 am

    Property Features for 315 E Front St

    General Information

    Standard status
    Active
    Size
    24,180 SF
    Property subtype
    Office

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    Kevin Endres
    Kevin Endres

    Listing agent Kevin Endres License #6502377374

    Listing office Three West Commercial

    Listing date May 26, 2026

    Source Cpix.resimplifi

    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 Three West Commercial

    HighLights

    • Four‑story downtown Traverse City professional office with unobstructed Boardman River and West Grand Traverse Bay views
    • Angled, north‑facing window wall floods each floor with natural light while framing signature water views
    • Lease space across four floors, with units from 685 SF street‑level to about 8,060 SF on each upper floor
    • Option to lease all three upper floors as one contiguous 24,180 SF block
    • Dual elevator service, two stairwells, and ADA/barrier‑free compliant entry
    • Men’s and women’s restrooms on each upper floor; modified gross lease basis

    Overview

    River Front Plaza is a distinctive four-story professional office building built for day-to-day productivity and tenant comfort. Lease space is available across the street level through the upper floors, supported by a dual-elevator layout and two stairwells. Each upper floor includes men’s and women’s restrooms, and the property features an ADA/barrier-free compliant entry. A signature angled, north-facing window wall creates bright interior spaces while framing unobstructed waterfront views of the Boardman River and West Grand Traverse Bay.

    Positioned in the heart of downtown, the building offers immediate access to the amenities and services along East Front Street. Public parking is available via a parking structure directly across the street, supporting convenient arrival for clients and employees.

    The space mix can accommodate a range of office needs, from a street-level unit to individual upper floors, or the option to lease multiple upper floors together as a contiguous block. Offered on a modified gross lease basis, the building is well suited for professional tenants seeking a higher-visibility location, strong natural light, and a waterfront setting that stands out in the market.
    Location Intelligence

    Current Use by Public Records

    Traverse City Complex State Government Office

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6174042
    Latitude
    44.7642548

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    FAQs

    What type of property is this?
    Office building - Four-story downtown office with abundant natural light and premier, unobstructed Boardman River and bay views.
    Where is this office building located?
    The property is located at 315 E Front St Traverse City, MI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Four‑story downtown Traverse City professional office with unobstructed Boardman River and West Grand Traverse Bay views; Angled, north‑facing window wall floods each floor with natural light while framing signature water views; Lease space across four floors, with units from 685 SF street‑level to about 8,060 SF on each upper floor
    (231) 534-5225
    We can help!
    Listing Contact
    Kevin Endres
    Kevin Endres
    Real Estate License ID: 6502377374
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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