Office Building with Meeting
For Sale
$349,900
3415 Veterans Dr, Traverse City, MI 49684
A reception foyer, kitchen, restroom, and storage basement support the building’s office layout.
Property Size1,504 SF
Price / SF$232.65
Days on Market227
Property Features for 3415 Veterans Dr
General Information
Standard status
Active
Size
1,504 SF
Property subtype
Commercial
Additional Details
Land Use
commercial
Building Details
Year Built
1980
Buildings
1
Building Size
1,504 SF
Listing Agency:
Five Star Real Estate - Front St TC
Listed By:
Sam Abood · License #6504216686
(231) 218-5130
Source:
Vmrealestatemichigan
Added: Feb 28
Changed: Oct 11
Last Checked: Oct 12 at 8:11PM
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 Five Star Real Estate - Front St TC
Investment Insights
Based on property information with market context.
At 3415 Veterans Dr in Garfield Charter Township, this 1,504-square-foot office property includes a reception foyer, office, kitchen and breakroom, restroom, and an expansive meeting room. A partial basement provides storage. The building dates to 1980 and is being sold in its current condition.
Key Highlights
- 1,504‑square‑foot office building with reception foyer, office, kitchen/breakroom, restroom, and meeting room
- Partial basement provides storage space
- Built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,108
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$322,160
$322.2K
Cap Rate 7%
$230,114
$230.1K
Cap Rate 9%
$178,978
$179.0K
Market Conditions
NOI Build-Up for 1,504 SF
Gross rent
$25.3K $16.80/SF
− Vacancy
−$3.8K −$2.52/SF
EGI
$21.5K $14.28/SF
− OpEx
−$5.4K −$3.57/SF
NOI
$16.1K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$322,160
Cap Rate 7%
$230,114
Cap Rate 9%
$178,978
Alternative Uses
Best Use
Office B
$230.1K
$201.4K – $268.5K
NOI $16,108 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.7K
$285.9K – $381.2K
NOI $22,870 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
323
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - A reception foyer, kitchen, restroom, and storage basement support the building’s office layout.
Where is this office building located?
The property is located at 3415 Veterans Dr Traverse City, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,504‑square‑foot office building with reception foyer, office, kitchen/breakroom, restroom, and meeting room; Partial basement provides storage space; Built in 1980
