Mixed-Use Property with
For Sale
$949,900
6375 E Traverse Highway, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size4,608 SF
Lot Size1.07 Acres
Price / SF$206.14
Days on Market1498
Property Features for 6375 E Traverse Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot
Exterior features
Vinyl, Aluminum
Lot features
Freestanding
Directions
From the intersection of M-72 W and M-22; go west on M-72 approximately 4.4 miles. Business and "M & E" sign on right (north) side.
Subdivision
Leelanau
Standard status
Active
Size
4,608 SF
Lot size
1.07 Acres
Taxes and HOA fees
Tax Description
"PRT SW 1/4 SEC 35 COM S 1/4 COR TH N 89 DEG 53'05" W 681.82 FT FOR POB TH CONT N 89 DEG 53'05" W 251.18 FT TH N 1 DEG 15'35" E 295.59 FT TH S 89 DEG 53'00" E 168.48 FT TH S 59 DEG 44'00" E 94.38 FT TH S 1 DEG"+--per the tax authority having jurisdiction.
Legal Description
"PRT SW 1/4 SEC 35 COM S 1/4 COR TH N 89 DEG 53'05" W 681.82 FT FOR POB TH CONT N 89 DEG 53'05" W 251.18 FT TH N 1 DEG 15'35" E 295.59 FT TH S 89 DEG 53'00" E 168.48 FT TH S 59 DEG 44'00" E 94.38 FT TH S 1 DEG"+--per the tax authority having jurisdiction.
Utilities
Water source
Private
Building Details
Building materials
Frame, 2x6 Framing
Roof type
Metal
Listing Agency:
Verity Real Estate, LLC
(231) 342-8777
Listed By:
Joshua Croff · License #6505418759
(231) 922-2350
Added: Aug 30, 2022
Changed: Sep 13
Last Checked: Oct 5 at 8:06PM
MLS# 1904494
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.
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial retail area with a 750-square-foot, one-bedroom, one-bath apartment above. The improvements feature frame construction with 2x6 framing, vinyl and aluminum exterior materials, a metal roof, private water, and a dedicated parking lot. The property encompasses 1.07 acres and includes two bathrooms.
The site provides 250 feet of frontage along M-72 W and is approximately five minutes from West Grand Traverse Bay. The commercial operation has functioned continuously since 1979 as a residential and commercial outdoor power equipment business, with equipment servicing, parts, and warranty work represented in the offering. The business includes independent ECHO servicing and references Briggs, Tecumseh, Kohler, LTC, Husqvarna, Poulan, TROY-BILT, and MTD product lines.
The site provides 250 feet of frontage along M-72 W and is approximately five minutes from West Grand Traverse Bay. The commercial operation has functioned continuously since 1979 as a residential and commercial outdoor power equipment business, with equipment servicing, parts, and warranty work represented in the offering. The business includes independent ECHO servicing and references Briggs, Tecumseh, Kohler, LTC, Husqvarna, Poulan, TROY-BILT, and MTD product lines.
Key Highlights
- Mixed‑use property on 1.07 acres
- 250' of frontage along M‑72 W
- 750‑square‑foot one‑bedroom, one‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,977
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,540
$1.1M
Cap Rate 7%
$813,957
$814.0K
Cap Rate 9%
$633,078
$633.1K
Market Conditions
NOI Build-Up for 4,608 SF
Gross rent
$88.5K $19.20/SF
− Vacancy
−$7.1K −$1.54/SF
EGI
$81.4K $17.66/SF
− OpEx
−$24.4K −$5.30/SF
NOI
$57.0K $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%
$1,139,540
Cap Rate 7%
$813,957
Cap Rate 9%
$633,078
Alternative Uses
Best Use
Retail
$814.0K
$712.2K – $949.6K
NOI $56,977 @ 7.0% cap · market cap 6.00%
Second Best
Mixed Use
$561.6K
$491.4K – $655.2K
NOI $39,312 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.00M
$875.9K – $1.17M
NOI $70,071 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combining retail operations with an upstairs residential unit and on-site parking.
Where is this mixed-use property located?
The property is located at 6375 E Traverse Highway Traverse City, MI.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Mixed‑use property on 1.07 acres; 250' of frontage along M‑72 W; 750‑square‑foot one‑bedroom, one‑bath apartment
