For Sale
$127,900
37-3032 Luxury Barn Ln, Traverse City, MI
Flex space
Property Size1,200 SF
Price / SF$106.58
Days on Market357
Property Features for 37-3032 Luxury Barn Ln
General Information
Standard status
Active
Size
1,200 SF
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
1
Listing Agency:
Key Realty One-TC
Listed By:
Jennifer Kreta · License #6501421253
(231) 492-4062
Source:
Exprealty
Added: Sep 15, 2025
Changed: Sep 5
Last Checked: Sep 5 at 10:39AM
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 Key Realty One-TC
Investment Insights
Based on property information with market context.
Key Highlights
- Borkholder craftsman custom truss commercial buildings: 30' wide x 40' long x 14'4" tall
- Structural layout includes 5x6 spaced sidewalls at 8' o.c., endwell posts approx. 8' o.c., and trusses at 4' o.c.
- Exterior insulation and weather barrier package: Typar/house wrap plus 4 mil clear polyethylene vapor barrier with 2‑inch foam on the perimeter
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,993
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$139,860
$139.9K
Cap Rate 7%
$99,900
$99.9K
Cap Rate 9%
$77,700
$77.7K
Market Conditions
NOI Build-Up for 1,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$10.8K $9.00/SF
− Vacancy
−$810 −$0.68/SF
EGI
$10.0K $8.33/SF
− OpEx
−$3.0K −$2.50/SF
NOI
$7.0K $5.83/SF
Area
Grand Traverse County, MI
Vacancy
7.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$139,860
Cap Rate 7%
$99,900
Cap Rate 9%
$77,700
Alternative Uses
Best Use
Flex RnD
$176.6K
$154.5K – $206.0K
NOI $12,361 @ 7.0% cap · market cap 9.66%
Second Best
Industrial
$99.9K
$87.4K – $116.6K
NOI $6,993 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Cordwood BBQ — 448 E Front St, Traverse City, MI 49686
- Guacamole Food Truck — 404 N Division St, Traverse City, MI 49684
Frequently Asked Questions
Where is this flex space located?
The property is located at 37-3032 Luxury Barn Ln Traverse City, MI.
What is the asking price?
The asking price for this property is $127,900.
What are key features of this property?
This property features: Borkholder craftsman custom truss commercial buildings: 30' wide x 40' long x 14'4" tall; Structural layout includes 5x6 spaced sidewalls at 8' o.c., endwell posts approx. 8' o.c., and trusses at 4' o.c.; Exterior insulation and weather barrier package: Typar/house wrap plus 4 mil clear polyethylene vapor barrier with 2‑inch foam on the perimeter
