Building Details

Building Size 2,000 SF

Listing Agency: Key Realty One-TC i***@keyrealtyagent.com

Listed By: Jennifer Kreta · License #6501421253 Show Phone

Source: Exprealty

Added: Oct 2 Changed: Oct 6 Last Checked: Oct 6 at 2:36AM

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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.

Located within the M-37 Round About Barns development, this 2,000-square-foot warehouse measures 40 feet by 50 feet, with 16-foot-4-inch sidewalls. The insulated structure has white-finished steel interior walls, attic access, and a concrete slab floor finished with epoxy. Two 12-by-14-foot insulated overhead doors have electric openers, while a separate commercial entry door has keypad access and security protection.

Building systems include 200-amp electrical service, ceiling fans, and a 120,000 BTU natural gas unit heater with exhaust and thermostat. The construction includes R-19 wall insulation and R-50 ceiling insulation. A 500-gallon water tank is connected to a sink. Utility meters for gas and electricity are managed by the owner.

Key Highlights

• 2,000 SF warehouse in the M‑37 Round About Barns development
• Building dimensions: 40' wide X 50' long X 16' 4" tall
• Two 12x14 overhead doors with electric openers and R16.4 insulation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,916

Cap Rate

6.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,320 $318.3K

Cap Rate 7%

$227,371 $227.4K

Cap Rate 9%

$176,844 $176.8K

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$19.9K $9.96/SF

− Vacancy

−$1.2K −$0.60/SF

EGI

$18.7K $9.36/SF

− OpEx

−$2.8K −$1.40/SF

NOI

$15.9K $7.96/SF

Area

Grand Traverse County, MI

Vacancy

6.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,320

Cap Rate 7%

$227,371

Cap Rate 9%

$176,844

Alternative Uses

Best Use

Warehouse

$227.4K

$199.0K – $265.3K (±1% cap)

NOI $15,916 @ 7.0% cap · market cap 6.37%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$434.5K

$380.2K – $506.9K (±1% cap)

NOI $30,413 @ 7.0% cap · market cap 12.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Electrical Service Auto Parts Store Daycare Center (Bike/Boat/Book/etc) Store HVAC Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2,080

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Paired insulated overhead doors, a finished interior, and substantial electrical service equip this building for commercial operations.

Where is this warehouse located?

The property is located at 40-3034 Man Cave Ln Traverse City, MI.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 2,000 SF warehouse in the M‑37 Round About Barns development; Building dimensions: 40' wide X 50' long X 16' 4" tall; Two 12x14 overhead doors with electric openers and R16.4 insulation