Turnkey Office Suite with
830 - 102 Cottageview Drive Unit SourceFi Traverse City, MI 49684
830 - 102 Cottageview Drive Unit SourceFi, Traverse City, MI, 49684
$625,000
For Sale
$625,000
Office suite with seven private offices, bullpen workspace, conference room, reception, and kitchenette, updated since 2022.
Property Size2,703 SF
Price / SF$231.22
Days on Market351
Property Features for 830 - 102 Cottageview Drive Unit SourceFi
General Information
- Standard status
- Active
- Size
- 2,703 SF
- Property subtype
- Business Opportunities
Building Details
- Year Built
- 1886
Listing agency
EXP Realty
(231) 570-9227
Listed by
Shelby Newhouse-Taplin
(231) 570-9227
Source
Xome
Added: Aug 6, 2025 Updated: Jul 19 at 2:04AM Checked: Jul 22 at 3:44AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This turnkey commercial office suite includes seven private offices, a large open bullpen area with new cubicles and stand-up desks, a conference room, reception area, and a kitchenette. Updates since 2022 include new carpet, refinished hardwood floors, fresh paint throughout, a new dishwasher, and all-new cubicle systems and furniture. The suite features massive 8-foot windows that provide abundant natural light.
The property is located within Grand Traverse Commons in Traverse City, Michigan, an area described as a central, walkable commercial setting. The offering also includes free onsite parking.
Currently configured with one tenant occupying a portion of the space, the layout supports owner-user or investment use, with HOA regulations stating residential use is allowed only on upper levels, so this space must remain commercial.
The property is located within Grand Traverse Commons in Traverse City, Michigan, an area described as a central, walkable commercial setting. The offering also includes free onsite parking.
Currently configured with one tenant occupying a portion of the space, the layout supports owner-user or investment use, with HOA regulations stating residential use is allowed only on upper levels, so this space must remain commercial.
Key Highlights
- Office suite with 7 private offices plus large open bull‑pen area, reception, conference room, and kitchenette
- Updated since 2022: new carpet, refinished hardwood floors, fresh paint, new dishwasher, and all‑new cubicle systems and furniture
- Central air and heat pump heating; interior also includes heating system count listed as 3
Local Financial Insights For Office B
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 | $45.4k | $16.80 |
| − Vacancy | −$6.8k | −$2.52 |
| EGI | $38.6k | $14.28 |
| − OpEx | −$9.6k | −$3.57 |
| NOI | $28.9k | $10.71 |
2,703 SF · lease $16.80/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$413.6K
$361.9K – $482.5K
NOI $28,949 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.2K
$513.8K – $685.1K
NOI $41,103 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ATI Physical Therapy
Physician
Trattoria Stella
Restaurant
Bay Area Recycling ...
Waste Management Facility
Traverse City State ...
Tour Operator
KAYLA BRYANT
Physician
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FAQs
What type of property is this?
Office units - Office suite with seven private offices, bullpen workspace, conference room, reception, and kitchenette, updated since 2022.
Where is this office units located?
The property is located at 830 - 102 Cottageview Drive Unit SourceFi Traverse City, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Office suite with 7 private offices plus large open bull‑pen area, reception, conference room, and kitchenette; Updated since 2022: new carpet, refinished hardwood floors, fresh paint, new dishwasher, and all‑new cubicle systems and furniture; Central air and heat pump heating; interior also includes heating system count listed as 3
