Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Traverse City Townhomes Title is generated by Realmo AI

    6028 Traverse Edge Way, Traverse City, MI 49684

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Modern 2-3 bedroom townhomes with upscale amenities near downtown.

    Type:Single Family Detached
    Added:
    Oct 1, 2024
    Days on Market:
    614
    Last Refresh:
    May 19 at 8:43 pm

    Property Features for 6028 Traverse Edge Way

    General Information

    Standard status
    Active
    Property subtype
    Single Family Detached

    We can help!

    Listing Contact
    Jane L. Payne

    Listing agent Jane L. Payne License #6506046454

    Listing office Grand Rapids East

    Listing date Oct 1, 2024

    Source Kw

    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 Grand Rapids East

    HighLights

    • Brand new 2 and 3 bedroom rental townhomes in Traverse City.
    • Includes a standard $265 monthly utility fee covering trash, recycling, water, sewer, and internet.
    • Features designer finishes, stainless steel appliances, central air conditioning, and in‑home washer and dryer.
    • Pet‑friendly with a dog wash station and pet play area.
    • Attached 1 stall garage.
    • Offers a private hiking trail and ample green space.

    Overview

    Edge 72 offers newly available 2 and 3-bedroom rental townhomes, blending modern design with practical amenities. Located minutes from downtown Traverse City, these residences feature designer finishes, stainless steel appliances, and central air conditioning. Each townhome includes an in-home washer and dryer, along with energy-efficient systems. Pet-friendly features include a dog wash station and a pet play area; up to two pets are allowed with applicable fees. Community amenities include grilling and picnic areas, ample green space, a private hiking trail, and free resident parking, with optional carport parking available for an additional monthly fee. A standard $265 monthly utility fee covers trash, recycling, water, sewer, and internet services. Electricity is separately metered. Layout availability may vary.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Building Supply Hotel & Motel Department Store Kitchen & Bath Showroom Food Market HVAC Service Garden Center Electrical Service Bed & Breakfast Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6942
    Latitude
    44.7515

    Nearby Similar for Lease

    • $28 SF/Yr
      2,586 SF

      Downtown Traverse City Commercial Space

      First floor commercial space in the heart of downtown.
      117 Union Street, Traverse City, MI 49684
      View Details
    • $20 SF/Yr
      8,060 SF

      Downtown Traverse City Office Building

      Four-story office building with river views in downtown Traverse City.
      315 E Front Street, Traverse City, MI 49684
      View Details
    • $22 SF/Yr
      685 SF

      Downtown Traverse City Office Space

      Premier office building with river views in downtown Traverse City.
      315 E Front Street, Traverse City, MI 49684
      View Details
    • $22 SF/Yr
      8,060 SF

      Downtown Traverse City Office Space

      Premier office building with river views in downtown Traverse City.
      315 E Front Street, Traverse City, MI 49684
      View Details
    • $18 SF/Yr
      8,060 SF

      Downtown Traverse City Office Space

      Premier office building with river views in downtown Traverse City.
      315 E Front Street, Traverse City, MI 49684
      View Details
    • $695/Mo
      272 SF

      Downtown Traverse City Office Space

      Renovated office space in downtown Traverse City for lease.
      216 E Front Street, Traverse City, MI 49684
      View Details
    • $1,250/Mo
      850 SF

      Downtown Traverse City Office Space

      Renovated office space in downtown Traverse City for lease.
      216 E Front Street, Traverse City, MI 49684
      View Details
    • $3,500/Mo
      3,112 SF

      Remodeled Office Space in Traverse

      Recently remodeled 3,112 SF office space in Traverse City.
      3639 Cass Road, Traverse City, MI 49685
      View Details
    • $4,500/Mo
      1,674 SF

      Restaurant/Retail Space on E Front

      Freestanding building with high visibility and traffic count.
      810 E Front Street, Traverse City, MI 49686
      View Details
    • $24 SF/Yr
      5,475 SF

      Renovated Flex Space in Traverse

      Versatile commercial space suitable for various businesses in Traverse City.
      707 Parsons Road, Traverse City, MI 49686
      View Details
    • $1,199/Mo
      1,000 SF

      Traverse City Office Space For Rent

      Office building in Traverse City's Slabtown neighborhood available for rent.
      1001 Bay Street, Traverse City, MI 49684
      View Details
    • $20 SF/Yr
      24,180 SF

      Downtown Traverse City Office Building

      Four-story office building with river views in downtown Traverse City.
      315 E Front Street, Traverse City, MI 49684
      View Details

    FAQs

    What type of property is this?
    Apartment building - Modern 2-3 bedroom townhomes with upscale amenities near downtown.
    Where is this apartment building located?
    The property is located at 6028 Traverse Edge Way Traverse City, MI.
    What are key features of this property?
    This property features: Brand new 2 and 3 bedroom rental townhomes in Traverse City.; Includes a standard $265 monthly utility fee covering trash, recycling, water, sewer, and internet.; Features **designer finishes, stainless steel appliances, central air conditioning, and in‑home washer and dryer.**
    (616) 826-7128
    We can help!
    Listing Contact
    Jane L. Payne
    Real Estate License ID: 6506046454
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6028 Traverse Edge Way, Traverse City, MI 49684
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!