Historic Office Suite with High
830 Cottageview Dr Ste 204 Traverse, Traverse City, MI 49684
For Sale
$398,000
Five private offices, reception space, and an open area support a flexible workplace layout.
Property Size1,731 SF
Days on Market94
Property Features for 830 Cottageview Dr Ste 204 Traverse
General Information
Standard status
Size
Class
Elevators
Property subtype
Additional Details
Floor
Amenities
shared kitchenette
grand balconies
exterior signage
shops and restaurants in lower level
Building Details
Building Size
Year Built
Listing Agency:
Coldwell Banker Commercial Schmidt Realtors
Listed By:
Dan Stiebel · License MI #6502352362
(231) 633-0432
Source:
Thebrokerlist
Added: Aug 9
Changed: Oct 26
Last Checked: Nov 10 at 5:10AM
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 Coldwell Banker Commercial Schmidt Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Office Suite 204 is located on the second floor of Building 50 at the Village of Grand Traverse Commons, a historic property built in 1886. The suite has two entrances, five individual offices, a reception area, and a large open section suitable for multiple workplace configurations. Thirteen-foot ceilings and 8-foot windows on both sides provide natural light, with views toward the front lawn and the rear of the building.
The suite includes access to a shared kitchenette equipped with a refrigerator, microwave, and coffee sink. Additional shared amenities include grand balconies, an elevator, two public restrooms, and parking. Exterior signage is available along Cottageview Drive. Shops and restaurants occupy the lower level of the building, adding on-site commercial activity within the Village community.
The suite includes access to a shared kitchenette equipped with a refrigerator, microwave, and coffee sink. Additional shared amenities include grand balconies, an elevator, two public restrooms, and parking. Exterior signage is available along Cottageview Drive. Shops and restaurants occupy the lower level of the building, adding on-site commercial activity within the Village community.
Key Highlights
- Five individual offices plus reception and a large open area
- 13' high ceilings and 8' tall windows on both sides of the suite
- Two entrances provide access to Office Suite 204
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,539
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,780
$370.8K
Cap Rate 7%
$264,843
$264.8K
Cap Rate 9%
$205,989
$206.0K
Market Conditions
NOI Build-Up for 1,731 SF
Gross rent
$29.1K $16.80/SF
− Vacancy
−$4.4K −$2.52/SF
EGI
$24.7K $14.28/SF
− OpEx
−$6.2K −$3.57/SF
NOI
$18.5K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,780
Cap Rate 7%
$264,843
Cap Rate 9%
$205,989
Alternative Uses
Best Use
Office B
$264.8K
$231.7K – $309.0K
NOI $18,539 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,322 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
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
$375,700
Median Home Value
Market
Average Price Trend$/SF for Office Units in Traverse City, MI
Properties on Market for Office Units in Traverse City
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Five private offices, reception space, and an open area support a flexible workplace layout.
Where is this office unit located?
The property is located at 830 Cottageview Dr Ste 204 Traverse Traverse City, MI.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Five individual offices plus reception and a large open area; 13' high ceilings and 8' tall windows on both sides of the suite; Two entrances provide access to Office Suite 204
