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Property profile & analytics
OFF-MARKET
Office buildings
806 Hastings St Traverse City, MI 49686-3454
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-0513360
Property summary
AI-generated overview
This 161-square-foot office space in Traverse City, Michigan, is perfect for entrepreneurs or those seeking a convenient workspace away from home. Located at 806 Hastings Street B, this single-tenant suite offers a private office with a large window, providing ample natural light. The building is situated between Parsons Road and Center Street, just one block east of Garfield Avenue, offering easy access and high visibility. The space is part of a multi-tenant building, providing a shared common seating area for tenants and their guests. This is an excellent opportunity for a small business or individual seeking a professional and affordable office solution. The monthly lease is $440, with an additional $50 monthly contribution towards utilities. Additional office spaces within the building may also be available. The property is located in Grand Traverse County, Michigan, with a zip code of 49686. This is a single-suite commercial property, ideal for a variety of professional uses. The property type is listed as Office and Land.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Total area
11,280 SF
Lot
0.82 ac (35,545 SF)
APN
51-786-078-00
UPID
US43-0513360
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Stephen T. Priestap, Attorney at Law Law Firm
-
Bemidji Area Indian Health Services Health
-
US Department of Labor Federal Government Office
-
Sandra's Dress Making-Alterations (Bike/Boat/Book/etc) Store
-
Traverse City Insurance Advantage LLC Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
STIEBEL PROPERTIES LLC
STIEBEL PROPERTIES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Traverse City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Traverse City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,153
Tax year 2023
Assessed value
$333,000
Assessed 2023
Previous assessed
$333,000
+0.0% YoY
Effective rate
3.95%
On assessed value
Total market value
$774,983
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Heating
FLOOR/WALL FURNACE
Cooling
YES
Stories
1
Total area
11,280 SF
Lot
0.82 ac (35,545 SF)
APN
51-786-078-00
UPID
US43-0513360
Jurisdiction
GRAND TRAVERSE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1973
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
STIEBEL PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1809 TIMBERLANE DR, TRAVERSE CITY, MI 49686-2050
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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