Remodeled Office
For Sale
$599,000
Pending
3639 Cass Road, Traverse City, MI 49685
Remodeled office building with commercial zoning and space for both owner-occupant and leased tenancy.
Property Size5,038 SF
Days on Market457
Property Features for 3639 Cass Road
General Information
Standard status
Pending
Size
5,038 SF
Property subtype
Office
Zoning
Commercial
Occupancy
50%
Building Details
Building Size
5,038 SF
Year Built
1945
Listing Agency:
Three West, LLC
Listed By:
David Frost · License #6501203019
(231) 620-5705
Source:
Themittengroup
Added: Jul 9, 2025
Changed: Oct 2
Last Checked: Oct 7 at 3:46PM
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, LLC
Investment Insights
Based on property information with market context.
This remodeled office building offers a total of 5,038 square feet and is described as zoned Commercial. The property is currently configured with half of the building leased, leaving the other half available for occupancy.
The building is centrally located in the Traverse City area on a main connection road, supporting convenient access for day-to-day operations.
For buyers or users looking for flexibility, the current layout provides income from the leased portion while also offering space to move into the vacant area. The property is also described as likely compatible with SBA financing.
The building is centrally located in the Traverse City area on a main connection road, supporting convenient access for day-to-day operations.
For buyers or users looking for flexibility, the current layout provides income from the leased portion while also offering space to move into the vacant area. The property is also described as likely compatible with SBA financing.
Key Highlights
- 5,038 SF office building that was recently remodeled
- Commercial zoning
- Half of the building is currently leased
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
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
NOI $76,610 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 49685, MI
20,856
Population
9,395
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
54.2 sq mi
ZIP Area
385
Density / Sq Mi
$82,639
Median Household Income
$45,783
Median Earnings
$1,338
Median Rent
$309,200
Median Home Value
Check the figures for this property
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 - Remodeled office building with commercial zoning and space for both owner-occupant and leased tenancy.
Where is this office building located?
The property is located at 3639 Cass Road Traverse City, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5,038 SF office building that was recently remodeled; Commercial zoning; Half of the building is currently leased
