Contiguous Flex Space
For Sale
Under Contract
$495,000
807 Lake Avenue, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size4,927 SF
Lot Size0.22 Acres
Price / SF$100.47
Days on Market54
Property Features for 807 Lake Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Multi-Family
Parking features
Parking Lot
Exterior features
Block
Directions
From Cass Street go to 11th Street, turn east and go one block, subject property will be on the east side of the road.
Subdivision
Grand Traverse
Standard status
Active Under Contract
Size
4,927 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
LOT 10 BLK 19 HANNAH LAY & CO'S 2ND ADD
Legal Description
LOT 10 BLK 19 HANNAH LAY & CO'S 2ND ADD
Building Details
Building materials
Block
Roof type
Membrane
Listing Agency:
Charlevoix Properties
Listed By:
Gary Strange
(231) 536-3300
Added: Aug 13
Changed: Sep 16
Last Checked: Oct 5 at 8:06PM
MLS# 1949266
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 offering includes three contiguous commercial properties at 807 Lake Avenue in Traverse City. The improvements comprise more than 9,000 square feet of warehouse area, 2,275 square feet of office space, and a 60-by-80-foot building containing 4,800 square feet of storage. Block construction, membrane roofing, and a paved parking lot are among the existing property features.
The site is within walking distance of downtown Traverse City and borders a walking trail along the southern boundary. Property to the east is owned by MDOT and the City of Traverse City, creating an open area extending toward Boardman Lake. The properties are zoned R-3 and collectively encompass more than 38,000 square feet of land, or just under one acre.
The site is within walking distance of downtown Traverse City and borders a walking trail along the southern boundary. Property to the east is owned by MDOT and the City of Traverse City, creating an open area extending toward Boardman Lake. The properties are zoned R-3 and collectively encompass more than 38,000 square feet of land, or just under one acre.
Key Highlights
- Three contiguous commercial properties at 807 Lake Avenue, Traverse City, MI 49684
- More than 9,000 sq. ft. of warehouse area
- 2,275 sq. ft. of office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,209
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,180
$784.2K
Cap Rate 7%
$560,129
$560.1K
Cap Rate 9%
$435,656
$435.7K
Market Conditions
NOI Build-Up for 4,927 SF
Gross rent
$49.1K $9.96/SF
− Vacancy
−$2.9K −$0.60/SF
EGI
$46.1K $9.36/SF
− OpEx
−$6.9K −$1.40/SF
NOI
$39.2K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,180
Cap Rate 7%
$560,129
Cap Rate 9%
$435,656
Alternative Uses
Best Use
Office B
$753.8K
$659.6K – $879.5K
NOI $52,768 @ 7.0% cap · market cap 10.66%
Second Best
Flex RnD
$725.0K
$634.4K – $845.9K
NOI $50,751 @ 7.0% cap · market cap 10.25%
Theoretical Best
Office A
$1.07M
$936.5K – $1.25M
NOI $74,922 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,062
Businesses Nearby
Balanced
Demand for This Use
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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Market
Vacancy Rate% for Office in Midwest region
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Similar Off Market Nearby
- Across the Board Provisions — 215 w eighth st apt b, traverse city, mi 49684
- Forrest, A Food Studio and Private Chef — 408 s union st, traverse city, mi 49684
- Cousin Jenny's Cornish Pasties — 222 E State St Suite 102, Traverse City, MI 49684
- Cordwood BBQ — 448 E Front St, Traverse City, MI 49686
Frequently Asked Questions
What type of property is this?
Flex space - Three adjoining commercial properties combine office, warehouse, and storage improvements with R-3 zoning near downtown Traverse City.
Where is this flex space located?
The property is located at 807 Lake Avenue Traverse City, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three contiguous commercial properties at 807 Lake Avenue, Traverse City, MI 49684; More than 9,000 sq. ft. of warehouse area; 2,275 sq. ft. of office space
