5840 Culver Road, Traverse City, MI 49685
COMMERCIAL - Traverse City, MI
- Added:
- Jul 8, 2025
- Days on Market:
- 365
- Last Refresh:
- Jul 7 at 6:06 am
Property Features for 5840 Culver Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Exterior features
- Vinyl
- Standard status
- Active
- Size
- 5,545 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Description
- PT GOVT LOT 7 SEC 31 T27N R11W COM W1/4 COR TH S 88 DEG 54'E 820.5' TH N 01DEG 6'E 33' TO POB TH N 290.4' TH E 150' TH S 290.4' TH W TO POB.
Utilities
- Water source
- Private
Building Details
- Building materials
- Frame
- Roof type
- Asphalt
Listing agent Thomas Krause (231) 357-2040
Listing office Krause Realty Solutions 1238 S Garfield Ave., Ste. A, Traverse City, MI (231) 714-7219
Listing date Jul 8, 2025
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
- Previously operated as a 12‑bedroom adult foster care/nursing home with private/shared half baths and ADA accessible shower‑rooms, offering immediate business potential or conversion possibilities.
- Includes furnishings for the foster care portion of the business, a security system, fire suppression system, and generator.
- Features a separate, secure 3‑bedroom, 1‑bath upstairs residence ideal for on‑site staff or owner housing.
- Boasts a large backyard, deck, shed with electric, and patio with radiant heat for outdoor enjoyment.
- Includes a 3‑car garage.
- Property has central air and forced air heating.
Overview
Local Financial Insights For Healthcare Medical
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 | $144.4k | $26.04 |
| − Vacancy | −$12.3k | −$2.21 |
| EGI | $132.1k | $23.83 |
| − OpEx | −$52.8k | −$9.53 |
| NOI | $79.3k | $14.30 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Traverse City
- County
- Grand Traverse
- State
- Michigan
- Longitude
- -85.693297
- Latitude
- 44.694512
