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    Versatile Facility with Full-Size Gymnasium Title is generated by Realmo AI

    4975 E Traverse Highway, Traverse City, MI 49684

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    For Lease
    $13 SF/Yr $9,316/Mo (calc)

    Religious - Traverse City, MI

    Property size:
    8,600 SF
    Lot size:
    18.89 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    80
    Last Refresh:
    May 22 at 6:06 am

    Property Features for 4975 E Traverse Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    Size
    8,600 SF
    Lot size
    18.89 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2015
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    David Coonrod

    Listing agent David Coonrod

    Listing office Three West, LLC 1131 E. Eighth Street, Traverse City, MI

    Listing date Mar 3, 2026

    MLS# 1942761 Listing URL

    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.

    HighLights

    • 8,600 SF facility ideal for recreational, community, educational, religious, or specialty fitness operations.
    • Full‑size gymnasium with hardwood flooring and high ceilings.
    • Men’s and women’s locker rooms with showers.
    • Mezzanine level featuring a kitchenette, theater area, and lounge space.
    • Two large offices or classrooms.
    • Built in 2015 with basement and metal roof.

    Overview

    This 8,600 square foot commercial facility is located in Traverse City, MI. The property is zoned for commercial use and is situated on an 18.89-acre lot. The building features a full-size gymnasium with hardwood flooring and high ceilings, suitable for basketball, volleyball, training programs, or large group activities. Men’s and women’s locker rooms with showers support the gymnasium. A mezzanine level overlooks the gym and includes a kitchenette, theater area, and lounge space. The main level also includes two large offices or classrooms. This versatile facility is suited for recreational, community, educational, religious, or specialty fitness operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    West Side Community ... Church Swish House Traverse ... Gym & Fitness Center

    Suggested Use

    Restaurant Gym & Fitness Center Food Market Grocery & Convenience Store Garden Center Computer & Electronic Repair Bakery Tech Support Center Farmer's Market

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bodies In Motion — 10660 E Carter Rd, Traverse City, MI 49684
    • LUXBODY | HIIT Fitness & Recovery Lounge — 708 Randolph St # 101, Traverse City, MI 49684

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.7566159
    Latitude
    44.7762576

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    FAQs

    What type of property is this?
    Fitness center & gym - 8,600 SF facility suitable for recreational, educational, or religious use.
    Where is this fitness center & gym located?
    The property is located at 4975 E Traverse Highway Traverse City, MI.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 8,600 SF facility ideal for recreational, community, educational, religious, or specialty fitness operations.; Full‑size gymnasium with **hardwood flooring and high ceilings.**; Men’s and women’s locker rooms with showers.
    (231) 642-6300
    We can help!
    Listing Contact
    David Coonrod
    Real Estate License ID: 6501426180
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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