Iconic Office Building with
For Sale
$2,400,000
522 E Front St, Traverse City, MI 49686
Remodeled office building with parking and development potential.
Property Size6,585 SF
Price / SF$364.46
Days on Market390
Property Features for 522 E Front St
General Information
Standard status
Active
Size
6,585 SF
Class
A
Total Parking Spaces
30
Property subtype
Office, Land
Zoning
C-4A
Building Details
Building Size
6,585 SF
Year Built
1979
Stories
2
Listing Agency:
Coldwell Banker Schmidt Realtors | Traverse City
Listed By:
Scott Hardy · License #6501306294
(231) 492-5898
Source:
Cpix.resimplifi
Added: Sep 11, 2025
Changed: Sep 9
Last Checked: Oct 4 at 6:34AM
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 Realtors | Traverse City
Investment Insights
Based on property information with market context.
This iconic office building is situated at the eastern entrance to downtown Traverse City. The property includes a large parking lot on-site. The building features a new roof and has been newly remodeled. It offers over 6,500 square feet on the main floor, with an additional 1,000 square feet of office space in the lower level. Zoned C-4a, the property is suitable for multiple commercial uses. It provides ingress and egress off of Front Street. Future development is possible up to 45 feet.
Key Highlights
- Newly remodeled with over 6,500 sq. ft. on the main floor and 1,000 sq. ft. of offices in the lower level.
- Large onsite parking lot.
- Zoned C‑4a for multiple commercial uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,422
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,440
$1.6M
Cap Rate 7%
$1,163,171
$1.2M
Cap Rate 9%
$904,689
$904.7K
Market Conditions
NOI Build-Up for 6,585 SF
Gross rent
$126.4K $19.20/SF
− Vacancy
−$10.1K −$1.54/SF
EGI
$116.3K $17.66/SF
− OpEx
−$34.9K −$5.30/SF
NOI
$81.4K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,440
Cap Rate 7%
$1,163,171
Cap Rate 9%
$904,689
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,422 @ 7.0% cap · market cap 3.39%
Second Best
Office B
$1.01M
$881.6K – $1.18M
NOI $70,525 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,134 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled office building with parking and development potential.
Where is this office building located?
The property is located at 522 E Front St Traverse City, MI.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Newly remodeled with over 6,500 sq. ft. on the main floor and 1,000 sq. ft. of offices in the lower level.; Large onsite parking lot.; Zoned C‑4a for multiple commercial uses.
