Unique Man Cave Pole
For Sale
$374,900
3901 Blair Valley Road, Traverse City, MI 49685
Tricked out pole barn with loft, bar, and golf simulator.
Property Size2,364 SF
Lot Size0.20 Acres
Price / SF$158.59
Days on Market169
Property Features for 3901 Blair Valley Road
General Information
Standard status
Active
Size
2,364 SF
Lot size
0.20 Acres
Property subtype
Mixed Use
Building Details
Building Size
2,364 SF
Year Built
2020
Listing Agency:
Coldwell Banker Schmidt Family Of Companies
(231) 499-1990
Listed By:
Shawn Smith · License #6506041960
(231) 499-1990
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 1:43PM
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 Coldwell Banker Schmidt Family Of Companies
Investment Insights
Based on property information with market context.
This unique pole barn offers 2364 square feet of space within a 240' X 50' structure. The corner unit features notable curb appeal and architectural details. An overhead door measures 14' X 14', complemented by a double-door main entry. The interior includes a loft area equipped with a mini kitchen, wet bar, wine rack, and built-in TV mount, creating a lounge space. Steel staircase and railing posts add to the aesthetic. A golf simulator setup is present, though sold separately, and there is ample room for multiple cars or boats. Amenities include heat, electric blinds, epoxy floors, a utility sink, a shower and tub, and a half bath. The gray architecture is enhanced by windows providing natural light. In addition to the overhead door, there are two service doors. The exterior features vinyl siding and cedar trim. The site is served by telephone, electric, natural gas, municipal water, and sewer. The property is situated on 0.2 acres.
Key Highlights
- Large 240' X 50' pole barn with 2364 square feet, suitable for multiple cars, boats, or recreational activities.
- Loft area with mini kitchen, wet bar, wine rack, built‑in TV mount, and lounge area.**
- 14' X 14' overhead door and double door main entry.
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
$24,351
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
6.50%
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%
$487,020
$487.0K
Cap Rate 7%
$347,871
$347.9K
Cap Rate 9%
$270,567
$270.6K
Market Conditions
NOI Build-Up for 2,364 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
$40.3K $17.04/SF
− Vacancy
−$2.8K −$1.19/SF
EGI
$37.5K $15.85/SF
− OpEx
−$13.1K −$5.55/SF
NOI
$24.4K $10.30/SF
Area
Grand Traverse County, MI
Vacancy
7.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
35.00%
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%
$487,020
Cap Rate 7%
$347,871
Cap Rate 9%
$270,567
Alternative Uses
Best Use
Flex RnD
$347.9K
$304.4K – $405.9K
NOI $24,351 @ 7.0% cap · market cap 6.50%
Second Best
Mixed Use
$288.1K
$252.1K – $336.1K
NOI $20,168 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$513.5K
$449.4K – $599.1K
NOI $35,948 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
255
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Tricked out pole barn with loft, bar, and golf simulator.
Where is this mixed-use property located?
The property is located at 3901 Blair Valley Road Traverse City, MI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Large 240' X 50' pole barn with 2364 square feet, suitable for multiple cars, boats, or recreational activities.; Loft area with mini kitchen, wet bar, wine rack, built‑in TV mount, and lounge area.**; 14' X 14' overhead door and double door main entry.
