Pet Supplies Plus
3180 W South Airport Rd, Traverse City, MI 49684
For Sale
Contact for pricing
Retail outlot on premier retail corridor near Grand Traverse Mall.
Property Size8,963 SF
Price / SF$263
Days on Market264
Property Features for 3180 W South Airport Rd
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Eli Neuman · License MI #6501456898
(248) 488-2620
Source:
Crexi
Added: Feb 20
Changed: Nov 8
Last Checked: Nov 10 at 7:53AM
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 Landmark Commercial Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features a Pet Supplies Plus outlot situated along Traverse City’s primary retail area on Airport Road. The location is an outlot to Grand Traverse Mall and is surrounded by national retailers, including Target, Lowe's, Walmart, and Home Depot. The property is 8963 square feet. Pet Supplies Plus reports that sales at this location exceed brand averages. The lease features rent at $18.00 per square foot, offering income with potential rental upside.
Key Highlights
- Premier retail corridor location on Airport Road in Traverse City.
- Outlot to Grand Traverse Mall, surrounded by Target, Lowe's, Walmart, and Home Depot.
- Pet Supplies Plus unit‑level sales significantly exceed brand averages.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,826
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,520
$2.2M
Cap Rate 7%
$1,583,229
$1.6M
Cap Rate 9%
$1,231,400
$1.2M
Market Conditions
NOI Build-Up for 8,963 SF
Gross rent
$172.1K $19.20/SF
− Vacancy
−$13.8K −$1.54/SF
EGI
$158.3K $17.66/SF
− OpEx
−$47.5K −$5.30/SF
NOI
$110.8K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,520
Cap Rate 7%
$1,583,229
Cap Rate 9%
$1,231,400
Alternative Uses
Best Use
Retail
$1.58M
$1.39M – $1.85M
NOI $110,826 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,295 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
599k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Shops & Services 19%
Dining 14%
Apparel 13%
Walmart
Superstores
110,473 visits/mo
0.5 miles
Target
Superstores
104,507 visits/mo
0.2 miles
Chick-fil-A
Dining
38,043 visits/mo
0.5 miles
Dunham's Sports
Apparel
35,929 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
35,694 visits/mo
0.3 miles
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
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Traverse City, MI
Properties on Market for Retail space in Traverse City
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Retail outlot on premier retail corridor near Grand Traverse Mall.
Where is this retail space located?
The property is located at 3180 W South Airport Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $2,366,227.
What are key features of this property?
This property features: Premier retail corridor location on Airport Road in Traverse City.; Outlot to Grand Traverse Mall, surrounded by Target, Lowe's, Walmart, and Home Depot.; Pet Supplies Plus unit‑level sales significantly exceed brand averages.**
