5-920 S Garfield Ave, Traverse City, MI 49686
Single-floor office condominium offers private entrance, dedicated HVAC, seven offices, and on-site parking.
- Added:
- Feb 5, 2026
- Days on Market:
- 153
- Last Refresh:
- Jul 1 at 4:40 am
Property Features for 5-920 S Garfield Ave
General Information
- Standard status
- Active
- Size
- 1,386 SF
Listing office Spectra Real Estate LLC (231) 649-2116
Listing date Feb 5, 2026
Source Exprealty
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 Spectra Real Estate LLC
HighLights
- Single‑floor office condominium with a private entrance
- Dedicated HVAC system
- Interior includes reception area, seven private offices, and 2 rest rooms
- Partial basement provides extra storage space
- Located in a wooded office park with plenty of on‑site parking
Overview
Set within a wooded office park in Traverse City, the property is positioned away from downtown traffic while still providing convenient access for occupants and visitors. The building also offers plenty of on-site parking, supporting smooth arrival and employee convenience.
The layout is well-suited for professional services requiring multiple private offices and a reception area, with dedicated HVAC for tenant control and comfort. For buyers looking for an owner-occupied workspace or a managed office investment, the combination of private entry, dedicated mechanical systems, and on-site parking provides a practical, low-friction option for office operations.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.3k | $16.80 |
| − Vacancy | −$3.5k | −$2.52 |
| EGI | $19.8k | $14.28 |
| − OpEx | −$4.9k | −$3.57 |
| NOI | $14.8k | $10.71 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Traverse City
- County
- Grand Traverse
- State
- Michigan
- Longitude
- -85.59446
- Latitude
- 44.763303
