Office Building with Leased Space

For Sale

Under Contract

$599,000

3639 Cass Road, Traverse City, MI 49684

Commercial, Traverse City, MI

Property Size5,038 SF

Lot Size0.54 Acres

Price / SF$118.90

Days on Market465

Property Features for 3639 Cass Road

General Information

Property type Commercial Sale

Property subtype Office

Zoning description Commercial

Parking features Parking Lot

Exterior features Wood, Stone

Lot features Freestanding

Directions North of South Airport Rd on the west side of Cass.

Subdivision Grand Traverse

Standard status Active Under Contract

Size 5,038 SF

Lot size 0.54 Acres

Taxes and HOA fees

Tax Description PT SW1/4 NE1/4 SEC 15 T27N R11W COM AT CTR POST SEC 15 TH N 19 DEG 08'21"E 591.67' TO POB TH N 15 DEG 51'42" E 150.06' TH N 21 DEG 29'49"E 142.89' TH S 64 DEG 23'05" E 124.49' TH S 26 DEG 37'14" W 250.9' TH N 89 DEG 29'16" W 93.21' TO POB.

Legal Description PT SW1/4 NE1/4 SEC 15 T27N R11W COM AT CTR POST SEC 15 TH N 19 DEG 08'21"E 591.67' TO POB TH N 15 DEG 51'42" E 150.06' TH N 21 DEG 29'49"E 142.89' TH S 64 DEG 23'05" E 124.49' TH S 26 DEG 37'14" W 250.9' TH N 89 DEG 29'16" W 93.21' TO POB.

Building Details

Building materials Block, Frame

Roof type Membrane

Listing Agency: Three West, LLC

Listed By: David Frost · License #6501203019

Added: Jul 9, 2025 Changed: Oct 15 Last Checked: Oct 16 at 6:06PM

MLS# 1936257

Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 5,038-square-foot office building on a 0.54-acre parcel was recently remodeled and has commercial zoning. Approximately half of the building is leased, while the remaining area is vacant. A parking lot serves the property.

Key Highlights

5,038‑square‑foot office building
0.54‑acre parcel
Recently remodeled

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,957

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,079,140 $1.1M

Cap Rate 7%

$770,814 $770.8K

Cap Rate 9%

$599,522 $599.5K

Market Conditions

NOI Build-Up for 5,038 SF

Gross rent

$84.6K $16.80/SF

− Vacancy

−$12.7K −$2.52/SF

EGI

$71.9K $14.28/SF

− OpEx

−$18.0K −$3.57/SF

NOI

$54.0K $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%

$1,079,140

Cap Rate 7%

$770,814

Cap Rate 9%

$599,522

Alternative Uses

Best Use

Office B

$770.8K

$674.5K – $899.3K (±1% cap)

NOI $53,957 @ 7.0% cap · market cap 9.01%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.09M

$957.6K – $1.28M (±1% cap)

NOI $76,610 @ 7.0% cap · market cap 12.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

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